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The Bahrain state sovereign wealth fund, Mumtalakat, will effectively become the sole owner of McLaren according to reports.
Bahrain’s sovereign wealth fund, Mumtalakat, has reportedly reached an agreement to acquire full ownership of the McLaren Group, including the F1 team. The Gulf state is set to become McLaren’s sole owner in a deal that may be announced this week. The transaction involves converting 20% of McLaren’s equity into new contracts, making the Bahrain state the group’s only shareholder. This development could potentially lead to a technology partnership with an original equipment manufacturer in the automotive sector as McLaren aims to become a hybrid and electric vehicle company. The deal follows a recapitalization approved by shareholders, marking a significant step in the transformation and growth of the Group.