McLaren valued at over £3bn as majority owners eye full control
McLaren Racing's majority shareholders are set to purchase the remaining 30% stake they don't already own in a deal that values the Formula One team at over £3bn, according to Sky News.
Source: Sharecast
Mumtalakat, the sovereign wealth fund of Bahrain, and auto investor CYVN are looking to buy out McLaren's remaining investors, including those that helped to inject much-needed capital in 2020.
According to Sky, Mumtalakat and CYVN are looking to purchase the stakes held by a number of smaller shareholders, including MSP Sports Capital, Ares Investment Management and UBS O'Connor.
US-based sports investment group MSP purchased a "significant minority shareholding" in McLaren back in 2020 in a deal that valued the company at £560m at the time.
The company is now said to be in a stronger financial position after the sale of its Applied Technologies unit and its headquarters in Surrey.
A deal between the two Gulf investors and remaining shareholders could be announced as early as Tuesday this week, Sky said.
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