KFH-Bahrain buys 75pc stake in Liberty

Kuwait Finance House Bahrain (KFH-Bahrain) has signed an agreement to acquire a 75 per cent interest in Liberty Aerospace Inc, a privately held designer and manufacturer of single-engine piston-powered aircraft headquartered in Melbourne, Florida.

Liberty Aerospace was recently granted US Federal Aviation Administration (FAA) approvals in February 2004 to bring to market the Liberty XL2, the first two-seat aircraft to be fully certified in the US in the past 30 years.

In addition, the company was awarded the 2004 International Aerospace Industry Award for General Aviation at the Annual Aerospace Industry Awards held in Singapore.

"As the first new aircraft of its kind to be fully certified in the US in three decades, the development of the Liberty XL2 is an achievement that sets a new standard for this category of aircraft," said Abdulhakeem Alkhayyat, general manager of KFH-Bahrain.

Sharif Monfaradi, head of direct investment at KFH-Bahrain, said his company is pleased with its ongoing ability to identify compelling investment opportunities on a global basis on behalf of KFH investors.