Mumtalakat plans to buy a 49 per cent 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," Joseph Kirikian, head of industries and services at Mumtalakat, told Reuters on the sidelines of an aluminium conference.

He declined to give a value for the investment but said the deal would hopefully close soon. - Reuters