Mumtalakat to buy 49 percent stake in Spanish aluminium firm Aleastur

Bahrain' s Mumtalakat Holding Company plans to buy a 49 percent stake in Spanish aluminium products group Aleastur, an executive at the Bahraini sovereign fund said on Monday.

"We are taking a minority stake and helping the company to expand into the Gulf," said Joseph Kirikian, head of industries and services at Mumtalakat, on the sidelines of an aluminium conference. Value for the investment was not disclosed but Kirikian said the deal would hopefully close soon.

Mumtalakat is a government-owned investment organization that manages the sovereign wealth fund for the Kingdom of Bahrain.

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