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Bahrain state fund takes full ownership of McLaren

  • March 26, 2024
  • 2 min read
Bahrain state fund takes full ownership of McLaren

The sovereign wealth fund of Bahrain has completed its deal to acquire full ownership of McLaren Group, one of the best-known British car makers. It follows years of negotiations to put the company on a stable long-term future. The takeover includes the supercar manufacturer as well as the Formula One team.

It will pave the way for the Woking based firm to pursue a technology partnership with a global automotive giant that may also include Mumtalakat offloading a minority stake in the company.

Paul Walsh, McLaren’s executive chairman said that the deal would strengthen the company’s governance as well as ownership 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,” said Mr Walsh told Sky News in a statement.

Mumtalakat said that completing the transaction “crystallizes the next phase of the company’s trajectory of growing its leadership position in the luxury super car and motorsports industries. This reorganisation and new simplified structure positions McLaren for success and opens up strategic avenues, which include exploring new partnerships to enhance the company’s growth over the coming years.”

Founded in 1963 by New Zealander, Bruce McLaren, the company has become one of the best known brands in Britain for both road cars and motorsports. It spent over 50 years competing in Formula One, winning eight constructors’ championships with drivers including Mika Hakkinen, Lewis Hamilton, Alain Prost and Ayrton Senna.

The team has one 180 Grand Prix, three Indy 500s, and the Le Mans 24 Hours. It saw its separate divisions reunited after the departure of Ron Dennis who had been responsible for the F1 team  during its most successful era.  

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