Bahrain will sell further stakes in major companies

Significance The commitment follows Alba provisionally agreeing to the firm’s absorption into Riyadh-owned Saudi Arabian Mining Company (Maaden) in mid-September. One week earlier, Bahrain’s other industrial parastatal, Bapco Energies, concluded its first asset sale. Both deals are a result of Bahrain’s limited financial resources. Impacts Financial support for Bahrain from wealthier Gulf allies will in future come predominantly through investment rather than direct aid. Saudi investment will enable the Bahraini smelter to be at the international forefront in developing lower-carbon aluminium products. Bapco will consider selling stakes in its refinery and other downstream assets to buyers able to offer operational input as well as funds.