BMW and Audi considering buying McLaren, report says

Audi unit of BMW and Volkswagen Group interested in buying British supercar maker McLaren Automotive Ltd.., automobile week reported.

BMW is looking at the supercar business, Audi is looking at McLaren’s Formula 1 racing unit. automobile week he said, without specifying where he got the information from. According to the report, BMW will meet early next month with Mumtalakat, Bahrain’s sovereign wealth fund, which controls McLaren. automobile week sister publication. Automotive News.

BMW and Audi spokespeople did not immediately respond to requests for comment outside of normal business hours.

McLaren was trying to improve his financial situation after the impact of the pandemic. In July, the Woking, England-based company raised £550 million ($738 million) from existing investors and new backers of preferred stock and equity guarantees, Ares Management Corp. and Saudi Arabia’s Public Investment Fund. It also raised $620 million from a bond issue.

Last month CEO Mike Flewitt resigns eight years later from the supercar manufacturer.