Bahrain’s wealth fund Mumtalakat takes full ownership of McLaren Group
- Date: 23-Mar-2024
- Source: Arab News
- Sector:Financial Services
- Country:Bahrain
Bahrain’s wealth fund Mumtalakat takes full ownership of McLaren Group
LONDON: Mumtalakat, Bahrain’s sovereign wealth fund, announced on Friday it had taken full ownership of British motorsport company McLaren Group.
The deal means Mumtalakat, which was already McLaren’s biggest shareholder, also owns a majority stake in the McLaren Racing Formula One team.
The British firm had been going through a period of financial uncertainty, reporting heavy losses, and called the deal a “major milestone,” the BBC reported. Bahrain’s wealth fund Mumtalakat takes full ownership of McLaren Group