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McLaren gets £150m lifeline from National Bank of Bahrain

The McLaren Group has received a crucial lifeline in the form of a £150 million loan from the national Bank of Bahrain that will buy the company some precious time as it seeks to refinance itself. The automotive group which includes the McLaren F1 team hit the skids recently, with its car sales tumbling amid the coronavirus crisis, compelling its principal shareholders - Bahrain sovereign wealth fund Mumtalakat, Mansour Ojjeh and Canadian businessman Michael Latifi - to seek an influx of cash to help it weather the storm. McLaren takes legal action to secure vital new loan McLaren's most recent attempt to raise funds has been temporarily blocked by a group of creditors who contend that...
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