Doha: Qatar Oman Investment Company announced the completion of the sale of its entire 7 percent equity stake in Qatar Aluminum Extrusion Company to Qatar Industrial Manufacturing Company (QIMC).
According to Qatar News Agency, this move is part of Qatar Oman Investment Company’s strategy to implement a new policy of exiting certain investments. The company aims to recycle its investments and redirect them towards new opportunities that generate added value for shareholders, aligning with its long-term investment strategy.
Meanwhile, QIMC has confirmed the agreement to purchase the 7 percent stake from Qatar Oman Investment Company in Qatar Aluminum Extrusion Company (QALEX), increasing its ownership to 52 percent. QIMC, established in 1990 with an initial capital of QR 396 million, has stakes in 20 industrial ventures, all of which are operational. These projects cover sectors such as petrochemicals, chemicals, construction materials, and food products. Additionally, QIMC is involved in several new initiatives that are currently in the establishment phase.