Gulf’s Fast Lane: Mumtalakat Takes Over McLaren
One of the fastest cars in the world, the McLaren, known as the British supercar, is getting a new owner. Mumtalakat, Bahrain’s sovereign wealth fund, has taken full ownership of the McLaren Group, which in turn fully owns McLaren Automotive.
The McLaren Group also holds a majority share in McLaren Racing, the company’s Formula 1 team. This new deal means that Mumtalakat also owns a stake in the F1 team. McLaren said that the move marks “a major milestone in the ongoing transformation journey of the luxury automotive and elite motorsports Group.”
The Bahraini wealth fund has been an investor of the McLaren Group since 2007. At that time, they acquired a 30% stake from the founding shareholders, Ron Dennis and Mansour Ojjeh.
Besides the McLaren Group, the wealth fund also has major investments in the FAI Aviation Group (German private jet rental company) and the National Bank of Bahrain.
Along with Bahrain, many other Gulf countries own major global assets, including Qatar, the UAE, and Saudi Arabia. These investments propel these nations forward and further place them as powerhouses on the global economic map.
