McLaren gets $760 mn in funding from Saudi Arabia's PIF, others

McLaren Group has received $760 million (550 million pounds) in funding from investors including Saudi Arabia's sovereign wealth fund PIF and Ares Management. While PIF and Ares will invest $550 million in the form of preference shares and equity warrants, the rest will come from existing shareholders, McLaren said. McLaren is controlled by Bahrain's Mumtalakat which holds a 62.55% stake.