Jun 20 2012
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Bahrain's Mumtalakat: No Current Plans to Raise Stake in UK's McLaren
Wednesday, Jun 20, 2012
DUBAI (Zawya Dow Jones)--Bahrain's Mumtalakat Holding Company, the country's sovereign wealth fund, said Wednesday it has no current plans to increase its stake in U.K.-based sports-car maker McLaren.
"Mumtalakat constantly reviews all of its investments with the aim of enhancing value in its portfolio," it said in an emailed statement. "However, Mumtalakat has no current plans to increase its stake in Mclaren and has made no statement suggesting otherwise".
Earlier Wednesday, Manama-based Al Bilad daily, reported that the sovereign wealth fund plans to increase its stake in Mclaren, citing remarks made to the paper by Chief Executive Mahmood Al Kooheji.
The sovereign wealth fund owns controlling stakes in some of Bahrain's highest-profile companies, including Gulf Air and Aluminium Bahrain. It also has stakes in National Bank of Bahrain and Bahrain Telecommunications Company.
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