KEY
MILESTONES
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March
In a partnership with Arcapita, we acquired a portfolio of income-generating logistics assets in Dubai, UAE. The new portfolio comprises up to 10 warehousing facilities occupying a total built-up area in excess of 1.2 million square feet, primarily in Dubai Investments Park.
Read moreApril
Mumtalakat retained a minority stake in PRO Unlimited after signing an agreement with Investcorp to sell shares to Harvest Partners. Pro Unlimited purchased in October 2014 has continued to grow with net revenues increasing by over 40% & Earnings before Interest, Tax, Depreciation & Amortization have almost doubled.
Read moreApril
Mazad was established by Mumtalakat as a Bahraini company responsible for conducting and organising auctions in collaboration with internationally renowned auction houses.
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Through Mumtalakat’s co-investment agreement with RDIF, Mumtalakat acquired a stake in PhosAgro, Europe’s largest producer of phosphate-based fertilizers and the world’s largest producer of high-grade phosphate rock.
Read moreMay
A stake of Transneft was acquired via Mumtalakat’s co-investment programme with RDIF. Transneft is the largest pipeline company in the world, operating the Russian oil and oil-product trunk pipelines network.
Read moreMay
Mumtalakat purchased a significant minority stake in Axtmann Aviation Holding GmbH that operates FAI Aviation Group (FAI), a leading global provider of mission-critical aviation services, offering fixed-wing air ambulance, special missions, charter and aircraft management in addition to full MRO services.
Read moreMay
A new Board of Directors for the Gulf Air Group Holding Company was appointed by Mumtalakat. The Board is under the Chairmanship of HE Kamal bin Ahmed Mohammed, Minister of Transportation and Telecommunications.
Read moreMay
Mumtalakat then assigned the new Board of Directors of the Kingdom’s national carrier, Gulf Air, chaired by HE Zayed bin Rashid Al Zayani, Minister of Industry, Commerce and Tourism.
Read moreJune
The audited consolidated financial results for 2016 were released with solid profits reported.
Read moreJuly
Alongside RDIF, Mumtalakat acquired a stake in Polyus, the largest gold producer in Russia and one of the top 10 gold producers in the world.
Read moreAugust
With the completion of GARMCO’s expansion plans, the company produced its first aluminium successfully following its planned production schedule. The expansion was part of a 3-year programme which aims to enable GARMCO to consolidate and expand its key strategic sales markets with higher recycle content aluminium alloys.
Read moreSeptember
Under the Chairmanship of HE Sh. Khalid bin Abdulla Al Khalifa, the Deputy Prime Minister, Mumtalakat’s Board agreed that the company will contribute profits of BD20 million to the National Budget for 2 consecutive years, distributed equally for 2017 & 2018, in addition to the continued pursuit of a number of investments in and out of Bahrain.
Read moreSeptember
As part of the co-investment programme with RDIF, Mumtalakat acquired a stake in Northern Capital Gateway, the operator of Pulkovo Airport. The airport is the 4th largest in Russia and the only operating airport in St. Petersburg.
Read moreSeptember
Mumtalakat’s General Counsel was named for a second time on The Legal 500’s GC Powerlist: Middle East 2017. The Legal 500 is a respected international legal periodical, that recognises top legal professionals.
Read moreOctober
Mumtalakat partnered with Arcapita to acquire an approximately 90% stake in NAS United Healthcare Services, a prime GCC provider of outsourced health insurance processing services.
Read moreOctober
In line with the Kingdom’s national plan to revive the pearling industry in Bahrain, as announced by HRH the Crown Prince at the 2017 Government Forum, Mumtalakat established the Bahrain Institute for Pearls and Gemstones (DANAT) which aims to become the world’s preferred partner for natural pearl and gemstone third party verification services.
Read moreNovember
Mumtalakat launched an award scheme to commemorate employees’ efforts, dedication and contribution to national growth across its local companies. This was supplemented by a campaign, “Many stories, one Bahrain,” which brings forth the stories of the many extraordinary individuals who help make their companies and communities more successful.
Read moreDecember
With the culmination of the Many Stories, One Bahrain campaign, outstanding individuals within Mumtalakat’s local portfolio companies were presented with a special commemorative award in a dedicated ceremony.
Read moreDecember
One of Mumtalakat’s co-investments with RDIF in 2017 was an investment in Russia’s second largest leading Full Truck Load trucking operator, Global Truck.
Read moreDecember
A new Board of Directors at Bahrain Real Estate Investment (Edamah) was appointed under the Chairmanship of Khaled Al Rumaihi.
Read moreDecember
In another partnership agreement involving Arcapita, Mumtalakat acquired Dubai Industrial Portfolio which consists of a portfolio of light industrial warehouse assets in Dubai Investment Park and Jabal Ali Free Zone, United Arab Emirates.
Read moreDecember
Bahraini Women’s Day was celebrated with a debate on women in the workplace and leadership in which Mumtalakat hosted local female leaders within its Bahrain-based portfolio. Bahraini Women’s Day is an initiative of the Supreme Council for Women to highlight the achievements and participation of Bahraini women in society.
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