McLaren's recapitalization process will make it easier for the company to form new investment and technology partnerships.
Bahrain's sovereign wealth fund, Bahrain Mumtalakat Holding Company, last week became the sole owner of McLaren after buying out all other shareholders in a recapitalization process.
Bahrain Mumtalakat was already the main shareholder of McLaren which is responsible for the McLaren Automotive supercar business and also owns aMcLaren has been struggling financially since the pandemic. The company has survived on additional funding from existing investors, as well as taking some more extreme measures, like
In the first nine months of 2023, which is the most recent period for which McLaren's financial results are available, the company reported a pre-tax loss of 276 million British pounds .To turn the ship around, Bahrain Mumtalakat reached a deal with other shareholders late last year to undertake the recapitalization in order to introduce a simplified share structure with a more streamlined governance process.
“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,” Shaikh Abdulla bin Khalifa Al Khalifa, Bahrain Mumtalakat's CEO, said in a statement.last year.
McLaren could potentially form a similar partnership. The company hasn't announced plans for an EV just yet, and if it does it will likely be something other than a supercar. CEO Michael Leiters has said that EV tech
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