F1 News
'McLaren Group to be fully owned by Bahrain investors'
- GPblog.com
The McLaren Group will reportedly be fully owned by Mumtalakat, Bahrain's sovereign wealth fund. The fund already held a 56 per cent majority stake in McLaren Group, but are set to secure full ownership through a deal with minority investors.
'McLaren to be fully owned by Bahrain investors'
Mumtalakat is reportedly on the verge of striking a deal with McLaren's remaining minority shareholders, British Sky News reported. This would mean that the shareholders would retain their economic rights, for example in case of a McLaren IPO, but would no longer be officially classified as shareholders. The deal is set to be announced later this week.
Some 20 per cent of McLaren's share capital would be converted in this way, leaving the state of Bahrain as McLaren Group's sole shareholder. McLaren Racing, the division under which the F1 and other racing activities fall, does still have their own external shareholders.
Earlier this year, Mumtalakat acquired McLaren shares from Saudi Arabia's sovereign wealth fund and Ares Management, a major US investor. Recently, the Bahrain-based fund reportedly put another £80 million into McLaren, which produces the hybrid supercar Artura.
The deal would simplify the Woking-based company's capital structure and should pave the way for partnerships with international car groups, which were previously held back by the company's complicated structure.