Latifi Invests £200M In McLaren Group
By email@example.com | May 22, 2018
Canadian businessman Michael Latifi has invested £203.8m ($274.3m) into the McLaren Group.
The cash injection, which amounts to a 10% stake in the business, will benefit the Formula 1 team, McLaren Automotive and McLaren Technologies.
Latifi has strong connections to the sport – his son Nicholas currently races in Formula 2 and is the reserve driver for McLaren’s rival team, Force India.
In a statement, Michael Latifi said of his investment: “I have been an admirer of the McLaren brand and its businesses for some time. McLaren is a unique organisation in automotive, racing and technology with exciting long-term growth prospects, which is why I have made this investment.”
Shaikh Mohammed bin Essa Al Khalifa, McLaren Group Executive Chairman,
The current F1 season is well underway, with the Monaco Grand Prix taking place this Sunday.