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Bahrain takes full control of McLaren Group
On the eve of the Australian Grand Prix, McLaren Group has announced that Bahrain's sovereign wealth fund has taken full ownership of the entire company. Long-term strategic investor Bahrain Mumtalakat Holding Company (“Mumtalakat”), the sovereign wealth fund of the Kingdom of Bahrain, has now taken full ownership of the share capital of the McLaren Group that builds high-end sportscars and owns a majority stake in the McLaren F1 team. Mumtalakat has been an investor in the McLaren Group since 2007, when it bought a 30% stake from founding shareholders Ron Dennis and Mansour Ojjeh. Over the years, the wealth fund increased that stake to 60%, while injecting hundreds of millions of...
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1mo ago from F1Technical.net
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