News Details
McLaren get new owners as Saudis jump ship
According to Sky News, Bahrain's state investment fund Mumtalakat is set to purchase a stake in the McLaren Group which is currently owned by Saudi Arabia's Public Investment Fund (PIF), with a deal expected to be completed on Thursday. It's believed that PIF are selling their stake in the manufacturer to Mumtalakat, which would make them McLaren's biggest shareholder. The stake in question includes McLaren Racing and the British manufacturer's motorsport division, which is owned by PIF and Ares Management until the deal is completed. Since 2021, it's understood that PIF and Ares have invested £400 million into McLaren; however, no further investment will be made by either party. Want to...
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2y ago from Formula1News.co.uk
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