KUWAIT, April 13 (Reuters) - Islamic lender Kuwait Finance House KFIN.KW plans to sell several investments in Bahrain, al-Watan newspaper said on Sunday.
KFH, Kuwait’s biggest lender by market value, plans to release a statement about the deal in the next few days, the paper said in an unsourced report. It did not provide further details.
Separately, the paper said KFH was planning a real estate investment in Bahrain worth $1.5 billion. The plan would consist of several commercial and residential projects on a area of 5,000 square kilometers.
The deal was pending the outcome of studies, it added, citing unidentified sources.
Daily al-Rai said on March 16 KFH was close to securing a real estate deal in Bahrain worth $1.5 billion. [ID:nL1659182]
The lender could not be immediately reached for comment. (For Reuters content on Islamic finance, click on ISLAMIC) (Reporting by Ulf Laessing; Editing by Louise Heavens)