KUALA LUMPUR, June 25 (Reuters) - The management and

ownership of Malaysia's airports operator will remain in

Malaysian hands following a plan to take it private, Prime

Minister Anwar Ibrahim said on Tuesday, amid protests against a

bid that includes foreign investors.

A consortium led by Malaysia's sovereign wealth fund

Khazanah Nasional Bhd and state pension fund the

Employees Provident Fund (EPF) announced on May 15 an offer to

take Malaysia Airports Holdings private, in a deal

that would value the airport operator at $3.9 billion.

The consortium also includes Abu Dhabi Investment Authority

and Global Infrastructure Partners (GIP), which is in the

process of being acquired by U.S. fund manager BlackRock ( BLK )

.

The privatisation plan has faced criticism and protests from

some ruling party and opposition lawmakers in Muslim-majority

Malaysia, a staunch supporter of the Palestinian people, over

BlackRock's ( BLK ) significant investments in Israel, which is fighting

a war against the militant Hamas group in Gaza.

Anwar told parliament on Tuesday that ownership of MAHB will

remain in Malaysia's hands through the 70% stake held by

Khazanah and EPF upon completion of the deal.

"MAHB's chairman and CEO will be Malaysians," Anwar said in

response to concerns that shares of the airport operator would

be sold to foreign investors.

Anwar said the privatisation process will continue, adding

GIP had already stated that BlackRock ( BLK ) will not take part in the

privatisation deal.