Bahrain signs deals to invest $1.3 billion in UK economy

(Reuters) – Bahrain has signed a memorandum of understanding for strategic investments and collaborations with Britain that will see the Gulf state’s private sector invest 1 billion pounds ($1.3 billion) in Britain, the Bahraini crown prince’s social media account said on Monday.

The investments will be through Bahraini sovereign wealth fund Mumtalakat, Investcorp, GFH Financial Group, and Osool Asset Management, the twitter account of the crown prince of Bahrain said.

($1 = 0.7881 pounds)

(Reporting by Yousef Saba and Omar Abdel-Razek; Editing by Mark Potter)