SWFI First Read, November 19, 2015
Mumtalakat Forms JV with Synergies Castings Limited
Bahrain’s Mumtalakat Holding agreed to form a joint venture with India-based Synergies Castings Limited, a company that focuses on aluminium casters and manufacturers of alloy wheels, to build an aluminium casting and specialty alloy wheel manufacturing facility in Bahrain. The development will be at the new molten metal park, adjacent to Aluminium Bahrain (Alba), which is a combined initiative between Mumtalakat and the Bahrain Economic Development Board (EDB). Mumtalakat will hold a 49% stake in the joint venture.
Raising Cash: Kazakhstan Seeks to IPO 43 State-Owned Companies in 2016-2017
Samruk-Kazyna announced the Kazakhstan government plans to sell stakes of at least 25% ownership in 43 large state-owned companies in 2016 and 2017. The method of selling the stakes would most likely be initial public offerings (IPO). Samruk-Kazyna manages the government’s shares of state-owned businesses. Some state-owned businesses that would go public include: company KazMunaiGas, uranium company Kazatomprom, railway company Kazakhstan Temir Zholy and mining firm Tau-ken Samruk. Kazakhstan President Nursultan Nazarbayev told the public he would like Kazakh businessmen and companies to take part in the privatizations.
TutorGroup Raises Series C Round
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