British racing outfit and supercar manufacturer McLaren is reportedly on the verge of being sold to Mumtalakat, a sovereign wealth fund fully owned by the Bahrain government. Mumtalakat was previously a 60% stakeholder but is now looking to enact a full takeover.
According to Sky News, the deal hasn't yet been finalized but is on the brink of being reached as final negotiations take place between Mumtalakat and McLaren's minority stakeholders. Should it be accepted, their equity would be converted to so-called "warrant-like instruments," which would give them first rights to future investments, for example, in an initial public offering (IPO).
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