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McLaren

Full McLaren takeover confirmed

The Sovereign Wealth Fund of Bahrain has taken full ownership of the McLaren Group.

Norris Australia
Article
To news overview © XPBimages

The McLaren Group has had a full takeover by the Sovereign Wealth Fund of Bahrain completed.

Shareholders approved a full recapitalisation of the business in December and now this process has finished, with F1 team stakeholder Mumtalakat Holding Company taking full ownership of the share capital.

McLaren's financial security has long been under pressure, with further measures being employed under the Covid pandemic to safeguard its future - including a lease deal for its Woking base, the McLaren Technology Centre.

Group executive chairman Paul Walsh said: “We are delighted at Mumtalakat’s continued commitment to McLaren through this deal, which strengthens our ownership and governance structure.

"This will further enable us to focus on delivering our long-term business plan, including investment in new products and technologies, whilst continuing to explore potential technical partnerships with industry partners.”

Mumtalakat CEO Shaikh Abdulla bin Khalifa Al Khalifa added: “Today’s announcement crystallises the next phase of the Company’s trajectory of growing its leadership position in the luxury super car and motorsports industries.

"This reorganisation and new simplified structure positions McLaren for success and opens up strategic avenues, which include exploring new partnerships to enhance the company’s growth over the coming years.

“The completion of this process is also a significant milestone that reflects our support for McLaren’s continued innovation and long-term commitment to excellence."

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