Bahrain sovereign fund to buy 49% of Spanish firm

Mumtalakat will become a minority owner following the transaction with aluminium producer Aleastur, a company official said

Mumtalakat is set to buy 49% stake in Aleastur. [Representational image]
Mumtalakat is set to buy 49% stake in Aleastur. [Representational image]

Bahrain's sovereign wealth fund is likely to invest in an European building materials producer. 

Mumtalakat reportedly intends to buy 49% stake in Spain's Aleastur. 

The Spanish firm is a producer of aluminium products, and also works within the steel sector. 

Joseph Kirikian, head of industries and services at Mumtalakat, said the investment comes in light of Aleastur's expansion plans. 

"We are taking a minority stake and helping the company to expand into the Gulf," Kirikian said, according to Reuters.

While he did not reveal the total value of the investment, Kirikian said he hopes the deal would "close soon".  

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