Khanid Innovation, Modern Finances Buy Stake in Samarkand Financial
Khanid Prime - Khanid Innovation and Modern Finances have announced that they now own a controlling stake in the Khanid Kingdom's largest investment bank, Samarkand Financial. The move, which is the culmination of two months of negotiations, gives Modern Finances an even stronger presence in the Khanid Kingdom and secures a strong financial partner for Khanid Innovation, one of today's most powerful Khanid corporations.
Samarkand Financial has been a large player in the Khanid financial sector for over three decades now, but until recently has had little presence outside the Kingdom. Last year marked its biggest departure from that strategy when the company helped to finance the stock purchase that propelled Mens Reppola to the CEO position at Ishukone in April. It was that purchase that brought the company to the attention of Modern Finances.
"Modern Finances has always looked to the Khanid Kingdom as a growth market," said CEO Alasunda Yeki. "This partnership with Khanid Innovation and Samarkand Financial ensures that we will have a strong presence in the Kingdom for the long term."
Khanid Innovation CEO Ganortchar Asabona said that the deal is part of a larger strategy for the company. "Khanid Innovation has been a leader in the technology sector since our founding, but our goals have always been to become a leader in innovation cluster-wise. This partnership is another step toward that goal."
The two CEOs made it clear they had no intention to upset the current leadership of Samarkand Financial, saying that they would be keeping the executive board intact. "We bought the company because of its success and we see no reason to change up a winning team," explained Yeki.