P1racenews AI automatic summary:
The Sovereign Wealth Fund of Bahrain has taken full ownership of the McLaren Group.
The McLaren Group has been fully acquired by the Sovereign Wealth Fund of Bahrain. Shareholders approved a complete recapitalisation of the business, with the F1 team stakeholder Mumtalakat Holding Company now holding full ownership of the share capital. McLaren’s financial stability has been a concern, leading to additional measures being taken during the Covid pandemic, such as a lease deal for its Woking base, the McLaren Technology Centre. Group executive chairman Paul Walsh expressed satisfaction with Mumtalakat’s commitment, enabling McLaren to focus on its long-term business plan and investments in new products and technologies. Mumtalakat CEO Shaikh Abdulla bin Khalifa Al Khalifa highlighted that the deal marks a new phase for McLaren in growing its leadership position in luxury supercars and motorsports, paving the way for strategic partnerships and continued innovation.
