Bahrain’s sovereign wealth fund has taken full ownership of the McLaren Group, which builds high-end sportscars and owns a majority stake in the McLaren F1 team.
The Bahraini fund, Mumtalakat, was already McLaren’s biggest shareholder.
The deal follows a period of deep financial uncertainty for the British company, which has been making heavy losses.
The deal follows a period of deep financial uncertainty for the British company, which has been making heavy losses.
The company is now understood to be looking at technical partnerships with other businesses, to help it develop electric vehicle technology.
“We are delighted at Mumtalakat’s continued commitment to McLaren through this deal,” McLaren Group’s executive chairman Paul Walsh said in a statement.
“This will further enable us to focus on delivering our long-term business plan, including investment in new products and technologies, while continuing to explore potential technical partnerships with industry partners.”
The McLaren Group has its headquarters in the Surrey town of Woking.
It owns McLaren Automotive, which over the past 14 years has become a major player in the market for prestige sportscars.
Bahrain’s sovereign wealth fund has taken full ownership of the McLaren Group, which builds high-end sportscars and owns a majority stake in the McLaren F1 team.
The deal follows a period of deep financial uncertainty for the British company, which has been making heavy losses.
The Bahraini fund, Mumtalakat, was already McLaren’s biggest shareholder.
The company is now understood to be looking at technical partnerships with other businesses, to help it develop electric vehicle technology.
The deal follows a period of deep financial uncertainty for the British company, which has been making heavy losses.
The deal follows a period of deep financial uncertainty for the British company, which has been making heavy losses.
The company is now understood to be looking at technical partnerships with other businesses, to help it develop electric vehicle technology.
“We are delighted at Mumtalakat’s continued commitment to McLaren through this deal,” McLaren Group’s executive chairman Paul Walsh said in a statement.
“This will further enable us to focus on delivering our long-term business plan, including investment in new products and technologies, while continuing to explore potential technical partnerships with industry partners.”
The McLaren Group has its headquarters in the Surrey town of Woking.
It owns McLaren Automotive, which over the past 14 years has become a major player in the market for prestige sportscars.
#Bahrain #takes #full #control #supercar #brand #McLaren
Note:- (Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor. The content is auto-generated from a syndicated feed.))
