Mumtalakat, the Bahraini sovereign wealth fund, has acquired a “significant” minority stake in a German private aviation company.
FAI Aviation Group, which operates from Albrecht Dürer International airport in Nuremberg, is best known for providing air ambulances.
“It has perhaps never been as important as it is today to support rapid aviation response to crisis situations,” said Mahmood H Alkooheji, chief executive of the Bahrain fund, who said the investment in FAI Aviation could support the firm’s potential expansion into the Gulf region.
Mumtalakat made the investment by buying a stake in Axtmann Aviation Holding, the firm which operates FAI Aviation.
Mumtalakat says it owns stakes in more than 40 commercial enterprises. Its structure has been compared to a private equity fund.
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