Mumtalakat looks for buyers of McLaren stake

Bahrain’s sovereign wealth fund, Mumtalakat, is reportedly looking to offload its stake in UK luxury car maker McLaren.

A spokesman for the fund told the Sunday Times that it was “open to discussing potential strategic partners and suppliers”.

Mumtalakat currently owns a 50% share in the company having first invested in the carmaker in 2007.

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The sovereign wealth fund had looked to take full ownership of McLaren last year after spending more than US$500 million to buy shares and warrants from Saudi Arabia’s Public Investment Fund and Ares Management.

However, according to the Sunday Times report, Mumtalakat has instructed JP Morgan to seek potential buyers for its controlling stake.

Investors have been forced to inject $1.92 billion into McLaren over the last four years to stem heavy losses.

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