Oscar Piastri in the pit lane with his mechanics, McLaren MCL60
McLaren is likely to be wholly owned by the state of Bahrain, according to the latest reports that Mumtalakat has increased his stake to become the sole owner.
A reorganization of the company could see Gulf state investment fund firm Mumtalakat increase its stake in McLaren Group, resulting in the state of Bahrain becoming the sole shareholder after completing the transaction with minority shareholders. .
Sky News reported that talks were underway to convert the company’s 20% stake into a new agreement, which would see Bahrain become the sole shareholder. Benefits of the new deal include McLaren’s initial public offering (IPO).
Although not classified as a stock, the deal is likely to be concluded this week, but Sky News contacted McLaren and received no confirmation. The idea is to simplify the capital structure and make better use of resources to grow on a global level.
Mamtalakat recently acquired McLaren’s stake in Saudi Arabia’s sovereign wealth fund and Ares Management. This would give it greater control over its shareholding, which could expand to one share once the current deal is completed.
The report comes at a time when McLaren Group and Mamtalakat have announced a recapitalization of the group’s financial capital structure, the combination of debt and equity that the company uses to raise funds.
McLaren Group CEO Paul Walsh said: “The completion of the recapitalization is an important step in the Group’s ongoing transformation and provides a solid foundation from which to grow our product offering and brand presence.” Stated.
At the same time, His Excellency Sheikh Abdullah bin Khalifa Al Khalifa, CEO of Bahrain Mumtalakat Holding Company, added: An optimal governance structure as the Group continues to design and deliver the world’s most innovative and exhilarating supercars. ”
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