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FINANCIAL NEWS
Bahrain’s Mumtalakat has no plans to sell stakes in domestic firms: CEO
30 Apr 2013
(MENAFN) Mumtalakat’s CEO, Mahmood Al Kooheji, stated that the Bahraini sovereign fund will not sell any stake in local firms at the current time, reported Gulf Daily News.
Al Kooheji, who in 2012 said that Mumtalakat could divest stakes in domestic companies to raise cash to invest in the Kingdom’s economy, added that the fund might take such moves, however, in later stages.
He said that Mumtalakat was considering some international opportunities, however, the fund would only invest on a selective basis.
It is worth noting that Mumtalakat has stakes in 40 companies in Bahrain’s non-oil sector, including Batelco and Alba.
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