Grupa Kety shares rose after the Polish aluminum company said it was buying Fengari Holdings for 645 million euros ($744.9 million), excluding debt, as part of its international expansion strategy.

Shares were up 9.9% at 1,266 zloty in mid-afternoon European trading, leading the Stoxx 600 index risers. The stock is currently up 39% over the year to date.

Kety said Tuesday it will fund the deal from cash reserves and bank loans. It said the deal won't affect its dividend policy.

Fengari owns the Metra Group, which manufactures aluminum profiles and supplies aluminum-processing services. It is expected to generate sales of 600 million euros and adjusted earnings before interest, taxes, depreciation and amortization of around 90 million euros this year.

Kety's Chief Executive Roman Przybylski said the deal "will open up a new chapter in the development of the company and create additional opportunities to build value for the customers, employees, shareholders and business partners."