The Sovereign Wealth Fund of Bahrain has completed its full takeover of the McLaren Group.
Shareholders authorized a comprehensive recapitalisation of the business in December, and the process is now complete, with F1 team shareholder Mumtalakat Holding Company acquiring full ownership of the share capital.
McLaren’s financial security has long been under threat, and additional steps are being implemented in response to the Covid epidemic, including a leasing agreement for its Woking headquarters, the McLaren Technology Centre.
Group executive chairman Paul Walsh stated, “We are delighted with Mumtalakat’s continued commitment to McLaren through this transaction, 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 marks the next step in the Company’s journey to strengthen its leadership position in the luxury supercar and motorsports industries.
“This restructure and new simpler structure prepares McLaren for success and opens up strategic opportunities, such as seeking new alliances to accelerate the company’s growth in the future 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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