Bahrain's Mumtalakat: No Current Plans to Raise Stake in UK's McLaren

Thursday, Jun 21, 2012

(This story was originally published Wednesday)

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.

According to Zawya.com data, Mumtalakat currently owns 50% of McLaren Automotive and 42% of its parent McLaren Group.

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.

-By Tim Falconer, Dow Jones Newswires; +9714 446-1690; tim.falconer@dowjones.com; Twitter: @ZDJnews

(END) Dow Jones Newswires

21-06-12 0340GMT