McLaren Group shareholders approve full recapitalisation
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McLaren Group Limited, a creator of world-leading supercars, has announced that its shareholders have unanimously approved a full recapitalisation of the Group.
Mumtalakat, the sovereign wealth fund of the Kingdom of Bahrain, is the majority shareholder of the Group.
The recapitalisation, which will introduce a simplified share structure and streamlined governance process, represents an important step in the Group’s continued mission to create world-leading supercars, offering a unique and unrivalled luxury customer experience and expanding to new markets and customer groups.
Paul Walsh, McLaren Group executive chairman, said: “Completing the recapitalisation is a significant step in the ongoing transformation of the Group and provides a solid platform from which to grow our product offering and brand presence."
McLaren Group is a global leader in luxury automotive and elite motorsports with a focus on its Automotive supercar and Racing businesses.
Shaikh Abdulla bin Khalifa Al Khalifa, chief executive of Bahrain Mumtalakat Holding Company, said: "Today’s announcement is testament to the diligent steps that have been taken in what is a comprehensive and long-term plan with our partners to deliver an optimal governance structure as the Group continues to design and deliver the world’s most innovative and exhilarating supercars."
With a mandate to grow the wealth of Bahrain through long-term investments based on sound financial, strategic and governance principles, Mumtalakat holds stakes in over 50 commercial enterprises with a portfolio spanning a variety of sectors, including industrial manufacturing, financial services, telecommunications, real estate, logistics, consumer products, healthcare and education.-TradeArabia News Service
