Bahrain: The Abu Dhabi Financial Group (ADFG) has signed a sale agreement with GFH Financial Group to buy a 10% stake in the Falcon Cement Company, according to Gulf News.
“With Falcon Cement’s strong market position and potential for future growth following the completion of a second production line later in 2016, the company represents an attractive investment opportunity for ADFG,” said Jassim Al Seddiqi, chief executive officer of ADFG.
Falcon Cement has a cement production capacity of 0.35Mt/yr. Production capacity is expected to increase to 0.85Mt/yr when the second production line launches at the end of 2016.