No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - The sovereign wealth fund of Bahrain has taken full ownership of supercar manufacturer McLaren, according to Sky News.
The deal, which is expected to be announced later on Friday, was first reported on in December when McLaren's shareholders approved a full recapitalisation of the company, which was hoped to simplify its share structure and kickstart expansion into new markets.
The recapitalisation has concluded, according to reports, meaning that Bahrain Mumtalakat Holding Company is now the only shareholder of the company.
Speaking to Sky News, McLaren's executive chair Paul Walsh said the deal will "further enable us to focus on delivering our long-term business plan, including investment in new products and technologies, whilst continuing to explore potential technical partnerships with industry partners".
The simplified structure is thought to enable McLaren to partner with an automotive tech manufacturer as the company expands into the electric vehicle market.
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.