News Details
McLaren Group receive £550m in new investment
McLaren Group are set for a £550m injection of capital, most of it via the sale of a stake in the company to the Saudi Public Investment Fund (PIF). Sky News report the equity raise could be announced in a matter of days, with £400m of it being new capital from PIF and Ares Management, a major global investment firm. The remaining £150m would come from McLaren’s existing shareholders who include Mumtakalat, the sovereign investment fund of Bahrain. The deal – the basis of which appeared to be confirmed by Zak Brown, the McLaren Racing CEO – would further solidify McLaren’s financial position which took a big hit at the start of the global pandemic. Positive news for our...
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3y ago from PlanetF1.com
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