LONDON: Luxury car maker McLaren Group announced that Nidala (BVI) Limited will be injecting equity capital of $273 million to purchase 888,135 ordinary shares in the company. The proceeds for the new capital will be received over the coming year.
This new capital, which is part of McLaren’s simplification plan over the last 12 months, will significantly strengthen the company’s balance sheet and underpins its ambitious growth plans laid out in its five-year business plan.
McLaren Group encompasses the McLaren Automotive, McLaren Racing and McLaren Applied Technologies companies following the merger of McLaren Automotive and McLaren Technology Group in July 2017 to enhance synergies.
Shaikh Mohammed bin Essa Al Khalifa, McLaren Group executive chairman, explained: “This injection of capital is a vote of confidence in our future strategy and the Group remains as focused as ever in positioning for growth.”
