Bahrain's state-owned investment fund, Mumtalakat Holding Company, is set to acquire full control of McLaren. The sovereign wealth fund will become McLaren's sole shareholder, with a reported 20% stake in the company changing hands. In late 2022, Mumtalakat owned a 60% stake in the McLaren Group and invested an additional $101 million in early 2023. McLaren has faced supply issues due to the pandemic, leading to the liquidation of assets. To secure funds for the development of the Artura supercar, McLaren sold off part of its heritage collection, including a Formula One championship car. The deal with Mumtalakat is expected to be announced soon.
Bahrain's sovereign wealth fund, Mumtalakat, is looking to invest more money in the UK, with a focus on the north of England. The fund aims to expand its portfolio in sectors such as real estate, tourism, banking, healthcare, and hospitality. Following the example of Qatar and Saudi Arabia, Bahrain is interested in acquiring properties, sports teams, and stakes in British companies. The Gulf Cooperation Council (GCC) is currently negotiating a free trade agreement with the UK, which could be worth £23.5 billion a year. This move to strengthen economic ties comes at a time of strained diplomatic relations due to the conflict between Israel and Hamas. Bahrain is the only Gulf country publicly supporting shipping protection efforts in the Red Sea.
Image: [f09a44ab]
Sources:
- InvestAsian: [160f0938]
- World Time Todays: [f09a44ab]
- Drive: [09951026]