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Provider: Thomson Reuters Stock Report
Provider: Wright Reports
Provider: Peel Hunt
Provider: Peel Hunt

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Ashmore Group plc Eyes Stake Sale In Saudi Waste Management Firm-Reuters

Friday, 1 Nov 2013 03:03am EDT 

Reuters reported that Ashmore Group plc is engaged in discussions to offload its majority stake in a Saudi waste management firm, with a sale likely seen raising about $250-$350 million for the fund manager. Ashmore has identified two parties as potential buyers for its around 65% stake in Global Environmental Management Services (GEMS), and is currently in the process of picking a bidder to hold exclusive talks. Ashmore has appointed Bank of America Merrill Lynch to assist with the sale process. GEMS provides services such collection, handling and disposal of petroleum and chemical wastes and is also involved in waste water treatment in Saudi Arabia. 

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