Bahrain’s Mumtalakat expands McLaren group ownership.

Bahrain’s Mumtalakat Expands Stake in McLaren Group

Bahrain’s state investment fund Mumtalakat has acquired the senior preference shareholder stakes in McLaren Group as part of a proposed broader restructuring. This move will increase Mumtalakat’s majority stake in McLaren, which includes the renowned British supercar maker and McLaren Racing.

Bahrain’s sovereign wealth fund has reportedly purchased shares and warrants worth £400 million ($510 million) in McLaren from Saudi Arabia’s Public Investment Fund (PIF) and Ares Management, according to Sky News.

The proposed restructuring, subject to ongoing shareholder discussions, aims to achieve the group’s long-term objectives, as stated by Mumtalakat in a recent statement. Mumtalakat sees this restructuring as the optimal governance structure to deliver McLaren’s Future of Performance strategy.

The transaction will not involve any new capital injection into McLaren, as reported by Sky News.

In July 2021, global investment firm Ares Management and Saudi Arabia’s PIF played a significant role in a £550 million equity investment in McLaren.

Mumtalakat, Ares Management, McLaren, and PIF have not provided immediate responses to requests for comment.

Mumtalakat’s CEO Khalid Al Rumaihi previously stated in June last year that he expects McLaren to go public within the next two to three years.

($1 = £0.7836)

Reporting by Bharat Govind Gautam in Bengaluru, Jana Choukeir and Yousef Saba in Dubai; Editing by Chris Reese, Matthew Lewis, and Alexander Smith

with Dr. Haywood Robinson

with Rep. Andy Ogles

with Dr. Johnson Varkey

with Bob Bianchi

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