Doha, September 21 (QNA) - 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).

In a statement on Qatar Stock Exchange (QSE) website on Sunday, Qatar Oman Investment Company said that this step comes within the framework of implementing the company's strategy to adopt a new policy of exiting some of its investments, with the aim of re-cycling its investments and directing them towards new investment opportunities that create added value for shareholders, in line with its long-term investment strategy.

Meanwhile, QIMC said that it has signed an agreement to purchase a 7 percent stake held by Qatar Oman Investment Company in Qatar Aluminum Extrusion Company (QALEX), bringing the company's stake to 52 percent.

QIMC, established in 1990 with a capital of QR 396 million, holds stakes in 20 industrial ventures, all of which are in the production phase. These projects span a range of sectors including petrochemicals, chemicals, construction materials, and food products. The company is also involved in several new initiatives that are still in the establishment stage. (QNA)