Public Investment Fund acquired GEMS from Jadwa.

The Saudi Investment Recycling Company, a wholly owned subsidiary of the Public Investment Fund acquired Global Environmental Management Services (GEMS), from Jadwa Waste Management Opportunities Fund which is managed by Jadwa Investment. Financial terms were not disclosed. Jeroen Vincent, CEO of SIRC, commented: “We are delighted to announce the first major investment by SIRC, as it seeks to play a leading role in developing the waste management sector in Saudi Arabia. GEMS is a well-established, respected player in the Kingdom, and we look forward to utilizing their expertise to expand our footprint in the Industrial Waste Sector while maintaining and expanding GEMS operations.”