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The McLaren Group has announced it has achieved the long-awaited overhaul of its complex share structure in a deal with its largest shareholder, raising hopes that the company has also been given the cash to fund future models and its electric transformation to the end of the decade.
McLaren praised the so-called recapitalisation of its company, agreed with Bahrain sovereign wealth fund Mumtalakat, as “a significant step in the ongoing transformation of the group”, without giving details. The company didn’t immediately respond to requests about what it means in terms of the shareholder structure and capital injection.
The changes mean McLaren is now effectively wholly owned by the Bahraini fund, Sky News reported, citing sources.
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Source: www.autocar.co.uk
This notice was published: 2023-12-20 17:11:33
Coach is a weekly British motoring magazine published by Haymarket Media Group. First published in 1895, it bills itself as “the world’s oldest automotive magazine.”