Bahrain takes full control of McLaren Group

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On the eve of the Australian Grand Prix, McLaren Group has announced that Bahrain's sovereign wealth fund has taken full ownership of the entire company.

The McLaren Group was founded by Ron Dennis shortly after his acquisition of the McLaren Formula One team in 1981, as the TAG McLaren Group due to a partnership with Mansour Ojjeh's TAG Group. The Formula One team had been established by New Zealander Bruce McLaren in 1963.

Long-term strategic investor Bahrain Mumtalakat Holding Company (“Mumtalakat”), the sovereign wealth fund of the Kingdom of Bahrain, has now taken full ownership of the share capital of the McLaren Group that builds high-end sportscars and owns a majority stake in the McLaren F1 team.

Mumtalakat has been an investor in the McLaren Group since 2007, when it bought a 30% stake from founding shareholders Ron Dennis and Mansour Ojjeh. Over the years, the wealth fund increased that stake to 60%, while injecting hundreds of millions of pounds into the business.

Expanding on the transition, 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.

"This will further enable us to focus on delivering our long-term business plan, including investment in new products and technologies, whilst continuing to explore potential technical partnerships with industry partners.”

Speaking of the new investment, His Excellency Shaikh Abdulla bin Khalifa Al Khalifa, Chief Executive Officer of Mumtalakat, added: “Today’s announcement crystallizes the next phase of the Company’s trajectory of growing its leadership position in the luxury super car and motorsports industries. This reorganisation 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.

“The completion of this process is also a significant milestone that reflects our support for McLaren’s continued innovation and long-term commitment to excellence,” he said.