Al-Futtaim to raise stake in Sri Lankan firm

Newswire

DUBAI, July 29 (Reuters) - Dubai family-owned Al-Futtaim Group is planning to further raise its stake in Sri Lankan automotive firm Associated Motorways (AMW) by as much as 5 percent today, a company executive said on Tuesday. Al-Futtaim, a United Arab Emirates group with interests ranging from property development to retail, said on Monday it had bought 71 percent of the Sri Lankan firm for 300 million dirhams ($81.68 million). Speaking to Dubai Eye radio on Tuesday, Bob Farrow, senior ...

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