News Details
McLaren raises more funds with sale of Applied tech unit
The McLaren Group continues its push to shore up its financials, having agreed to sell its Applied technology division to a private investment group. McLaren Applied which specializes in electrification, telemetry, analytics and control, and which supplies the standard ECU used in F1's power units, has been acquired by London-based Greybull Capital. The move is part of the automotive group's financial turnaround that recently included a sale and lease back of its state-of-the-art McLaren Technology Center in Woking, a sale of £185 million minority stake in McLaren Racing, and a 550 million capital restructuring undertaken last month with several investors and existing shareholders,...
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