Long-awaited share restructure is a step towards funding the company's future product plan
The McLaren Group has announced it has achieved the long-awaited overhaul of its complex share structure in a deal with its largest shareholder, raising hopes that the company has also been given the cash to fund future models and its electric transformation to the end of the decade. McLaren praised the so-called recapitalisation of its company, agreed with Bahrain sovereign wealth fund Mumtalakat, as “a significant step in the ongoing transformation of the group”, without giving details.
The McLaren Group received £450 million from shareholders in 2023 to the end of November, the company said, without revealing which shareholders. McLaren didn’t say whether Mumtalakat had put in more money during the recapitalisation – however, CEO Michael Leiters told Autocar in August that the company was looking for “the final cash injection to fund the whole business”.
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