April 13, 2008 / 7:00 AM / 11 years ago

Kuwait Finance to sell Bahrain investments -paper

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)

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