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Mumtalakat acquires 49% stake in ALEASTUR

Bahrain - Established in 1985 in Spain, ALEASTUR is specialised in the manufacturing of aluminium grain refiners and master alloys, mainly in rod form and ingots.

By Suad Hamada

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Published: Tue 8 Mar 2016, 11:00 PM

Last updated: Wed 9 Mar 2016, 8:46 AM

Bahrain Mumtalakat holding company, the investment arm of Bahrain, has announced the successful acquisition of a 49 per cent equity stake in Asturiana de Aleaciones SA ("ALEASTUR" or the "Company"), a Spanish-based manufacturer of aluminium grain refiners and master alloys.
Established in 1985 in Spain, ALEASTUR is specialised in the manufacturing of aluminium grain refiners and master alloys, mainly in rod form and ingots. Since its inception, the Company has evolved into one of the leading aluminium grain refining players in the world with an international presence and a diverse distribution base of over 700 customers across 70 countries.
This transaction demonstrates Mumtalakat's continued commitment to further develop the Kingdom's downstream aluminium sector and to strengthen the synergies between local manufacturers and key international players. Mumtalakat aims to support ALEASTUR's plans to establish a presence in Bahrain to cater to the Company's existing client base in the region and to target new customers in Asia, including smelters and casting operations.
Commenting on the successful closure of the transaction, Mahmood Hashim Al Kooheji, Chief Executive Officer of Mumtalakat said: "We are proud to have partnered with ALEASTUR, a prominent global aluminium grain refiner, and we look forward to working closely with the Company's strong management team to support its expansion initiatives. Mumtalakat intends to leverage its extensive aluminium industry expertise and strong regional network to enable ALEASTUR to tap into new export markets and reach its growth potential.

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