Asset management

Mumtalakat open to McLaren IPO even as it grapples with Brexit

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McLaren is Mumtalakat’s biggest investment in Europe.

Wednesday 27, February 2019

(Bloomberg) –Bahrain’s sovereign wealth fund remains open to an initial public offering (IPO) of McLaren Group, though it isn’t in a rush to sell its controlling stake in the supercar maker and Formula One racing team.

Mahmood Al Kooheji, the Chief Executive Officer of Mumtalakat, said, “When we think it’s the right time, we will go for an IPO.”

“We’re a happy investor in McLaren,” added Al Kooheji.

Al Kooheji said that while UK-based McLaren will be affected by the uncertainty surrounding Brexit, it will need to redefine a solution for it.

Aston Martin and Bentley Motors have been making arrangements to do what they can to avoid problems with their supply chains as British Prime Minister Theresa May considers a plan to delay Brexit and stop the UK leaving the European Union with no deal next month.

TAGS : Mumtalakat, IPO, Prime Minister Theresa May, Brexit, McLaren

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