McLaren is 56% owned by the Bahrain sovereign wealth fund, Mumtalakat Holding Co.
The McLaren Group, which includes the Formula One team, has arranged a £150 million financing facility with the National Bank of Bahrain (NBB), the Gulf bank said on Monday.
The COVID-19 pandemic has hit the company hard, with sales of its supercars plunging during a factory shutdown. It announced 1,200 redundancies in May.
« Final documentation has been signed and all the necessary approvals have been granted in relation to a … £150 million financing facility, » NBB said in a bourse statement.
Bahrain sovereign wealth fund Mumtalakat Holding Co is the majority shareholder in McLaren Group, with a 56% stake.
Mumtalakat also holds a 44.06% stake in NBB while the government of Bahrain holds a 10.85% stake, Refinitiv data showed.
https://www.espn.com/f1/story/_/id/29386237/mclaren-arranges-150m-loan-bahraini-bank
