News Details

McLaren Group gets £550m investment from Saudi Arabia

The McLaren Group is set to receive a timely influx of cash from Saudi Arabia's Public Investment Fund and existing and new shareholders. Saudi Arabia's PIF and global investment firm Ares management are expected to contribute £400m of new capital to the automotive company while existing and new shareholders - including majority shareholder Mumtakalt - will invest £150m in the form of Convertible Preference Shares. As of Friday, the equity raise was still in the process of being finalized. McLaren said that the deal will allow for the repayment of the loan received in June 2020 from the National Bank of Bahrain and the right-sizing of the capital structure, while the transaction will...
Full Story »
2y ago from F1i.com 0
Share

You May Also Be Interested In...

Saudi Arabia contributes to £550m investment in...

The McLaren Group has raised £550 million in new investment which will...
2y ago from MotorsportWeek.com

Saudi Arabia's PIF in talks to buy stake in McLaren...

Saudi Arabia's Public Investment Fund (PIF) and global investment firm...
2y ago from GrandPrix247.com

McLaren raises £550m in new investment

McLaren has confirmed that numerous investors have injected a further...
2y ago from Pitpass.com

De Vries criticises Formula E qualification format:...

Nyck de Vries started the Formula E season very well with a victory in...
2y ago from GPBlog.com

Elsewhere On The Network

Popular On MGPToday.com

F1 owner Liberty Media set to finalise purchase of...

Formula 1 owner Liberty Media are in talks to buy Madrid-based company...

Popular On IndyCarToday.com

Rosenqvist: Confidence within MSR growing with every...

Felix Rosenqvist has started off his time with Meyer Shank Racing on a...
23h ago from MotorsportWeek.c...

Popular On TotalWRC.com

Neuville pips Tänak in Safari opener

FIA World Rally Championship leader Thierry Neuville took a slender...

Popular On GunnersToday.com

Transfer news: Southgate Man Utd, Liverpool CB...

This article was originally published on Fabrizio Romano’s Daily...
47m ago from CaughtOffside.com

Jamie Carragher claims Newcastle have a player better...

Former Liverpool star and Sky Sports pundit Jamie Carragher has claimed...
57m ago from CaughtOffside.com

Comments

Hottest News

Recent News


2014 GPToday.com
GPToday.com is not responsible for the news headlines and associated descriptions and images it indexes, the content of externally linked sites or the comments & postings of its users.

This website is unofficial and is not associated in any way with the Formula One group of companies. F1, FORMULA ONE, FORMULA 1, FIA FORMULA ONE WORLD CHAMPIONSHIP, GRAND PRIX and related marks are trade marks of Formula One Licensing B.V.