October 13, 2008

Al Jazeera board approves sale of 51% stake to Global Investment

Al Jazeera announced that its shareholders have approved a plan to sell a 51% stake to the private equity unit of Global Investment House KSCC, Kuwait's biggest investment bank.

Al Jazeera is a tubing manufacturer of mild steel black and galvanized round tublings with a plant at Sohar in Oman. Promoted by a group of Omani entrepreneurs with a fairly large holding with the general public of the Sultanate, Al Jazeera has become one of the leading tubing manufacturers in the Middle East. From its plant at Sohar in Oman, Al Jazeera offers both mild steel Black and galvanized round tubes. Jazeera supplies both types of pipes with ends threaded and coupled as per British, DIN, ASTM and other International specifications.