Luxury automotive and elite motorsports firm McLaren Group has announced its capital reorganisation has been completed.
Under the reorganisation, long-term strategic investor Bahrain Mumtalakat Holding Company (“Mumtalakat”), the sovereign wealth fund of the Kingdom of Bahrain, takes full ownership of the share capital of the group following the conversion of all preference shares into ordinary shares.
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Paul Walsh, McLaren Group Executive Chairman, said: “We are delighted at Mumtalakat’s continued commitment to McLaren through this deal, which strengthens our ownership and governance structure.”
His Excellency Shaikh Abdulla bin Khalifa Al Khalifa, Chief Executive Officer of Mumtalakat, added: “Today’s announcement crystallises the next phase of the Company’s trajectory of growing its leadership position in the luxury super car and motorsports industries.”
McLaren says it continues to see extremely strong customer demand for its range of supercars and hypercars.
Following the launch of the GTS in December, McLaren unveiled the Artura Spider, McLaren’s first series-production high-performance hybrid open-top supercar.
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By GlobalData
