Bahrain to gain full ownership of the McLaren Group

According to media reports, Bahrain’s state-controlled investment fund Mumtalakat is all set to take full control of the McLaren Group.

Reports suggest that Bahrain’s sovereign wealth fund is about to finalize a deal with McLaren minority shareholders to convert their equity into warrant-like instruments. An official announcement could be made later this week.

Around 20% of the equity in McLaren will be converted into new contracts, making the state of Bahrain the sole shareholder in the company.

Earlier this year, Mumtalakat acquired shares in McLaren from Saudi Arabia’s sovereign wealth fund and US-based investor Ares Management. It has also invested an additional 8 million into the company.

Currently, McLaren offers a range of supercars, including the 750S, GTS and the hybrid Artura. Besides its mainstream offerings, the Woking-based brand’s portfolio includes the 765LT and the ultra-exclusive Solus GT.

Source: Sky News