Skip to content Skip to Search
Skip navigation

PIF sells McLaren stake to Bahraini fund for $510m

McLaren, supercar, car, Wheel McLaren
McLaren sells its range of motorcars through a network of more than 100 retailers in over 40 markets worldwide
  • No new money being injected into McLaren
  • Mumtalakat holds controlling stake in supercar maker
  • McLaren in first stage of EV restructuring plan

Saudi Arabia’s Public Investment Fund (PIF) will sell preference shares and warrants worth £400 million ($510.48 million) in British supercar maker McLaren Group to Bahrain’s investment fund Mumtalakat.

The deal is likely to be announced on Thursday, Sky News reported.

The private transaction will not result in new money being injected into McLaren. 

The stake sale comes almost two years after sovereign wealth fund PIF and Ares Management invested £400 million in McLaren.

Earlier this year, McLaren received a £70 million funding boost from investors in the first stage of its restructuring plan aimed at steering it into the electric vehicle era, the news report said.

Mumtalakat holds a 62.55 percent controlling stake in McLaren Group.

Late last year, Mumtalakat bought the heritage models in exchange for a $123 million cash injection.

Founded in 1963 by Bruce McLaren, the company owns one of the most famous names in British motorsport. It has won 180 Grands Prix, three Indianapolis 500s and the Le Mans 24 Hours on its debut.

In March, Robert Holtshausen, McLaren’s new regional market director for the Middle East, told AGBI that the company is investing in new facilities in Abu Dhabi, re-entering the UAE capital in a deal with Abu Dhabi Motors. 

McLaren Abu Dhabi is currently operational in a pop-up facility, with a permanent showroom to open in 2024.

The regional plans come as McLaren looks to accelerate growth following a disappointing 2022 when it says production was hindered by industry-wide semi-conductor shortages and supply constraints. 

Announcing global revenue of $168 million and sales of 620 cars in Q1, the company said production of its $260,000 Artura hybrid supercar was “ramping up”.

Latest articles

ADQ's holdings include Abu Dhabi National Energy Company (Taqa) and are worth almost $200 billion

ADQ: how Abu Dhabi’s ‘baby’ fund is finding its feet

Abu Dhabi sovereign wealth fund ADQ may be the younger, smaller sibling of ADIA and Mubadala but there are no signs of an inferiority complex as it executes billion-dollar deals at home and overseas. Most notable was the $35 billion agreement signed with the Egyptian government in February this year to develop Ras El Hekma, […]

Suriname oil

QatarEnergies buys into Suriname oil expansion

The state-owned giant QatarEnergy has signed a deal with US oil company Chevron to acquire a 20 percent interest in a production-sharing contract for an offshore concession in the South American country of Suriname. Chevron will keep a 40 percent interest in Surname’s block 5, as will Paradise Oil, an affiliate of Suriname’s national oil […]

Videos released last month show construction of the Royal Arts Complex at King Salman Park is well underway

Full steam ahead on ‘largest urban park in the world’

Saudi Arabia is forging ahead with construction of what it calls the “largest urban park in the world”, publishing videos of its first buildings under construction after a tunnel opened earlier this year.  King Salman Park in Riyadh is owned by the Public Investment Fund and was recently valued by real estate consultancy Knight Frank […]

Saudi and Lilium signed an agreement this week for 50 air taxis with an option for 50 more

Saudia to buy 50 air taxis from Germany’s Lilium

Saudi national carrier Saudia has agreed to buy at least 50 pilotless electric flying vehicles from Germany’s Lilium in the region’s biggest “air taxi” deal so far.  The deal for what the industry calls electric vertical take-off and landing (eVTOL) aircraft is Saudia’s second major order this year. In May Saudia ordered 105 Airbus aircraft, […]