Welcome to the Winfield Stock Hub

Engineering, procurement, construction & management of crude oil refineries.

Free
Message: Big bucks being pooled for big investments

Again, probably not related to Winfield. My point is that there is some big bucks being brought together for a world of change in africa. I am hoping we are part of it with winfield in charge.







KUWAIT, May 11 (Reuters) - Kuwait's Investors Holding (INVK.KW: Quote, Profile, Research) plans to set up a $2 billion investment firm with the Libyan government and offer half the new company to foreign investors, the company said on Sunday.

Investors has signed a memorandum of understanding with Libya to create the firm, with each holding 25 percent and the remainder sold to strategic investors, the company said in a statement on the Kuwait bourse website.

A company official, who declined to be identified, told Reuters the company would be set up within two months.

He said both sides would be targeting institutional investors in several countries in the Middle East in a private placement for which details had still to be decided.

The new company will undertake several large projects, including energy investments in Libya and other countries in North Africa and the Middle East.

Investors said a committee would look at potential deals in tourism, real estate, financial services, transport and telecommunications.

Share
New Message
Please login to post a reply