Bahrain sovereign wealth fund to take control of McLaren
Mumtalakat's purchase of the shares held by McLaren's minority investors is expected to be formalized shortly.
The McLaren group is about to change ownership. Mumtalakat, the sovereign fund of the Bahraini State, has reportedly found an agreement, according to Sky Sports, with the minority shareholders of the group. Bahrain is expected to become the sole owner of McLaren, and according to the British media, this agreement could be formalized as early as this week. This new program aims to establish itself in the long term.
The buyout of the minority shareholders’ shares represents about 20% of McLaren’s total shares. Initially, McLaren Racing, the team that runs in Formula 1, obtained its own external shareholders, following agreements made during the Covid-19 pandemic to raise new capital. Therefore, this buyout by Mumtalakat testifies to the investment fund’s confidence in the rebuilding of McLaren, according to a person close to the matter.
A takeover that could influence the entire group
Through the buyout of all the shares by a single organization, McLaren will see its infrastructure simplify. The English manufacturer will have to devote less time to managing contracts and finances among the other structures, since Mumtalakat will become the sole investor.
Thanks to this simplification, a technological partnership with an original automotive manufacturer (OEM) would be facilitated. McLaren is trying to adapt to the new market requirements with electric or hybrid vehicles.
Since 2019, McLaren has undergone numerous changes and recoveries. During the Covid-19 pandemic, the group opted for a first general restructuring, resulting in the dismissal of a hundred employees within the manufacturer to alleviate its debts. In 2023, this time for its Formula 1 branch, McLaren changed its organizational chart. Andrea Stella was appointed director of the team.
The arrival of a new investor, unique this time, could lead to another restructuring. After a very convincing second half of the season, McLaren hopes to fight for victory in the Grand Prix during the 2024 season.
