Bahrain’s sovereign wealth fund, Mumtalakat has taken full ownership of the McLaren Group, which builds high-end sportscars and owns a majority stake in the McLaren F1 team.
Mamthalakath was McLaren’s largest shareholder with a 60 percent stake, which has now expanded to 100 percent ownership.
HE Shaikh Abdulla bin Khalifa Al Khalifa CEO – Mumtalakat
“This announcement crystallizes the next phase of the Company’s trajectory of growing its leadership position in the luxury supercar and motorsports industries. This reorganization and new simplified structure positions McLaren for success and opens up strategic avenues, which include exploring new partnerships to enhance the company’s growth over the coming years. The completion of this process is also a significant milestone that reflects our support for McLaren’s continued innovation and long-term commitment to excellence.”
Paul Walsh, McLaren Group Executive Chairman, said that, “We are delighted at Mumtalakat’s continued commitment to McLaren through this deal, which strengthens our ownership and governance structure. This will further enable us to focus on delivering our long-term business plan, including investment in new products and technologies, whilst continuing to explore potential technical partnerships with industry partners.”
Mumtalakat has been an investor in McLaren Group since 2007 when it bought a 30 percent stake from former chairman Ron Dennis and the late Mansour Ojjeh. Over time it increased that stake to 60 percent, while injecting hundreds of millions of pounds into the business, as per the reports.
Over the last six decades, the McLaren brand has become one of the most successful and admired names in elite motorsport, competing around the world in Formula 1, IndyCar, Formula E, Extreme E, and esports.
According to the statement, “Today, the company’s product portfolio of GT, supercar, Motorsport, and Ultimate models are retailed through an expanding network of over 100 retailers in more than 40 markets around the world.”
