Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

McLaren receives £30m boost from Bahraini owners

by February 5, 2024
February 5, 2024
McLaren receives £30m boost from Bahraini owners

McLaren, the Woking-based luxury carmaker, has secured an additional £30 million from its Bahraini owners, Mumtalakat, the Bahrainian sovereign wealth fund.

This injection of capital comes as McLaren strives to fortify its long-term stability amidst persistent financial challenges. Just two months ago, Mumtalakat injected £80 million into the company, further solidifying its position as McLaren’s largest shareholder.

Mumtalakat, which owns two-thirds of McLaren, has been a consistent source of financial support for the company as it grapples with cash issues linked to the ongoing semiconductor shortage exacerbated by the pandemic. The recent investment brings the total funds received by McLaren in the last twelve months to nearly £500 million.

To navigate its financial landscape, McLaren has enlisted the assistance of financial PR firm Teneo, seeking advice on capital structure and aiming to diversify funding sources beyond Bahrain.

The history of financial challenges at McLaren extends back several years, with auditors sounding alarms in September 2022 about the company’s collapse risk due to the global semiconductor shortage. The situation has been exacerbated by quality control issues during production at McLaren’s Woking facility.

In a strategic move in 2020, McLaren sold its iconic Woking headquarters to investment firm GNL in a £170 million deal. However, McLaren retains tenancy rights for the next two decades, ensuring continuity despite the change in ownership. The Gulf investment vehicle, Mumtalakat, is poised to become McLaren’s sole shareholder through a “full recapitalisation” deal announced in December.

Read more:
McLaren receives £30m boost from Bahraini owners

0
FacebookTwitterGoogle +Pinterest
previous post
Biden camp reportedly fears photos from special counsel classified docs probe could devastate reelection bid
next post
UK government contemplating reversal of “Boiler Tax” amidst price surge

You may also like

Where Excellence Finds a Home

May 2, 2025

Spotify attacks Apple’s ‘outrageous’ 27% commission

January 19, 2024

Small firms raise alarm over Companies House rule...

June 27, 2025

Workers ‘face real-terms wage cut’ without government help

September 7, 2022

Vacancies fall as employers rein in hiring

March 14, 2024

Mastering the Art of Business Growth: Essential Strategies...

January 22, 2024

Big Motoring World Warranty Review: Top Tips for...

April 5, 2025

Fuel Ventures and Oxford Capital join forces with...

January 23, 2025

Is NewCasinos the Go-to Site for New Casino...

January 10, 2025

Award-winning Birmingham Afro hair care solutions company secures...

November 14, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Xi Jinping’s surprise no-show at BRICS Summit fuels speculation about China’s global standing

      July 5, 2025
    • Tesla sees UK sales rebound in June as EV market accelerates

      July 5, 2025
    • Hived raises $42m to roll out electric delivery fleet across southern England

      July 5, 2025
    • Week Ahead: NIFTY Set To Stay In A Defined Range Unless These Levels Are Taken Out; Drags Support Higher

      July 5, 2025
    • “A turning point for education”: James Caan launches bold education reform plan in House of Lords

      July 5, 2025
    • ‘Invest in Women’ fund criticised for slow rollout as MPs call for bolder action

      July 5, 2025

    Categories

    • Business (8,397)
    • Investing (2,102)
    • Politics (15,946)
    • Stocks (3,190)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved