McLaren Group has announced the completion of capital reorganisation where investor Bahrain Mumtalakat Holding has taken over the company.
Further to the announcement on 19 December, McLaren Group Limited (“the Group”) today announces its capital reorganisation has been completed. This marks a major milestone in the ongoing transformation journey of the luxury automotive and elite motorsports Group.
Under the reorganisation, long-term strategic investor Bahrain Mumtalakat Holding Company (“Mumtalakat”), the sovereign wealth fund of the Kingdom of Bahrain, takes full ownership of the share capital of the Group following the conversion of all preference shares into ordinary shares.
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.”
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.
McLaren continues to see extremely strong customer demand for its range of supercars and hypercars. Following the launch of the GTS in December, McLaren unveiled the Artura Spider, McLaren’s first series-production high-performance hybrid open-top supercar. Building on the success of the McLaren 720S, which was widely considered the benchmark performance car of its class, the recently-revealed McLaren 750S – McLaren’s lightest and most powerful series production supercar – is now sold-out to the end of 2024.
Over the last six decades, the McLaren brand has become one of the most successful and admired names in elite motorsport, competing around the world in Formula 1, IndyCar, Formula E, Extreme E and esports. Since the inception of the company’s supercar arm in 2011, McLaren Automotive has quickly grown to become one of the world’s leading and most-revered high-performance vehicle brands, with ground-breaking vehicles such as the P1, Senna and Speedtail now widely considered to be modern-day classics and icons of innovation. Today, the company’s product portfolio of GTS, supercar, Motorsport and Ultimate models are retailed through an expanding network of over 100 retailers in more than 40 markets around the world.
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[Note: The story is as per press release]