Bahrain’s wealth fund Mumtalakat takes full ownership of McLaren Group

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