Bahrain's state investment fund Mumtalakat is buying preference shares and warrants worth 400 million pounds ($510.48 million) in carmaker McLaren from Saudi Arabia's Public Investment Fund (PIF) and Ares Management , Sky News reported on Wednesday.
A McLaren 720S is on display at the McLaren Automotive Production Centre Woking, Britain September 12, 2017. REUTERS/Chris J. Ratcliffe/Pool/File Photo
June 21 - Bahrain's state investment fund Mumtalakat is buying preference shares and warrants worth 400 million pounds in carmaker McLaren from Saudi Arabia's Public Investment Fund and Ares ManagementThe transaction will not lead to any new money being injected into McLaren, the Sky News report said, adding that an announcement from Mumtalakat on the deal will come on Thursday.
The purchase will expand Mumtalakat's majority stake in McLaren group, which includes the British supercar maker as well as McLaren Racing., global investment firm Ares Management and Saudi's PIF provided much of a 550 million-pound equity investment in the McLaren group. Bahrain's sovereign wealth fund could not be reached for comment. Ares Management declined to comment, while McLaren and the PIF did not immediately respond.Reporting by Bharat Govind Gautam in Bengaluru Editing by Chris Reese and Matthew Lewis
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
World Cup winner N'Golo Kante transfers to Saudi champions Al IttihadSaudi football team Al Ittihad brings in French midfielder N'Golo Kante for three years, calling it 'one of the most high-profile and impactful signings in the club's history'
Les mer »
Senators call PGA Tour, Saudi officials to testify about proposed dealSenators called on officials from the PGA Tour, Saudi investment fund and LIV Golf to testify about the proposed PGA-LIV Golf deal
Les mer »
PGA Tour will appear before a Senate panel investigating its deal with Saudi backers of LIVA Senate subcommittee is asking executives from the PGA Tour, Saudi golf interests and LIV Golf to testify as Congress investigates the shocking business deal that upended the sport
Les mer »
PGA Tour will appear before a Senate panel investigating its deal with Saudi backers of LIVA Senate subcommittee is asking executives from the PGA Tour, Saudi golf interests and LIV Golf to testify as Congress investigates the shocking business deal that upended the sport.
Les mer »
‘Paper Empire’ Heads To Saudi Arabia; BBC Acquires ‘Clean Sweep’; Yousry Nasrallah Cairo Honor & Telfaz11 Major Acquisition – Global Briefs‘Paper Empire’ Sets Entire Third Season Shoot At Saudi Arabia’s Film AlUlaCryptocurrency drama Paper Empire will film the entirety of its 10-episode third season at Saudi Arabia’s burgeoning shooti…
Les mer »
Retired sub commander: Noises in submersible search are 'encouraging'Alfred Scott McLaren, a retired U.S. Navy Captain, spoke with Scripps News about scenarios the crew of the missing Titanic submersible might face.
Les mer »