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Mumtalakat acquires 49% stake in Spanish-based aluminium grain refiner

Bahrain Mumtalakat Holding Company ("Mumtalakat"), the investment arm of the Kingdom of Bahrain, today announced the successful acquisition of a 49% equity stake in Asturiana de Aleaciones S.A. ("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.

l Kooheji added: "This acquisition marks our second investment in the downstream sector in recent months and underscores our efforts to bolster the Kingdom’s aluminium industry through strategic alliances. Mumtalakat is continuously looking to partner with well-established international companies operating in related sectors to further diversify and grow its investment portfolio."

Jose Martinez, Chief Executive Officer of ALEASTUR, said: "We are extremely pleased that our small but globalised company, ALEASTUR, has met Mumtalakat’s, Bahrain’s sovereign wealth fund, partnership criteria. We are very proud to have partnered with such a remarkable, long-term investor, and we are keen to exploit all our business synergies with the strong financial and industrial support of Mumtalakat, both at the Bahrain expansion and at the corporate level. 

With a very dedicated aluminium landscape and deep experience and knowledge developing the downstream industry in Bahrain, we truly have found the best partner and location possible for our first international expansion project."

Source: BNA.bh