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Confirmed: McLaren to receive £150 m loan from National Bank of Bahrain

UPDATE: McLaren have now confirmed that they will receive £150 million from the National Bank of Bahrain to resolve its cash-flow problems. The original story, published last week, is as follows: With its finances decimated by the COVID-19 pandemic, the BBC is now reporting that the company will receive a loan from the National Bank of Bahrain (NBB), pending board approval. Bahrain Mumtalakat Holding Company, which is the majority shareholder in the McLaren Group, owns a 49% stake in the NBB. Despite a £291m cash injection from investors in March, McLaren claims those funds have been entirely spent in the interim, necessitating further investment which has proved difficult to come-by....
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1mo ago from GrandPrix247.com 0
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