State-owned Mumtalakat Holding Company is reportedly on the verge of acquiring the Surrey car manufacturer.
Bahrain’s state-run investment fund, Mumtalakat Holding Company, has reportedly taken full control of the McLaren Group.
According to a report from sky newsIf the deal is announced, the sovereign wealth fund will become McLaren’s sole shareholder.
According to reports, ownership of a 20% stake in the company will change as part of the deal, with the Bahraini fund becoming the Woking-based carmaker’s sole shareholder.
At the end of 2022, Mamtarakat owned 60 per cent of the McLaren Group and reportedly invested a further $101 million in early 2023.
McLaren has faced pandemic-related supply issues for years, forcing it to liquidate assets.
The brand first sold its Surrey headquarters for $240 million in April 2021, but remained a tenant for the next 20 years.
McLaren will sell off much of its heritage collection in 2022 to fund the development of its Artura supercar.
Mumtalakat reportedly paid £126 million for an undisclosed fleet of vehicles, including an F1 championship car.