Ashmore to purchase 65 percent stake of Saudi GEMS

03 Nov 2013

(MENAFN) Ashmore Group Plc has announced its plan for purchasing a stake in a Saudi waste management firm for USD250-350 million, according to Arab News.

Britain-based Ashmore plans to buy 65 percent stake of Global Environmental Management Services (GEMS), one of the banking sources said.

An American bank was appointed to manage the sale process of Ashmore, said the sources.

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