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Audi reportedly acquires McLaren Group - secures entry into F1!
Audi has allegedly acquired the entire McLaren Group according to a report published on Monday by Autocar, a deal that secures Germany automotive company's entry into Formula 1. The McLaren Group which includes McLaren Racing has struggled financially in the past 18 months as sales of its automotive division bear the brunt of the global Covid pandemic. Since 2020, the group has undergone several capital raises and financial restructuring initiatives, receiving last summer a £550 million injection from new and existing shareholders, including from investment firm Ares Management Corporation and Saudi Arabia's Public Investment Fund. ©SeanBullDesign The recapitalization move was conducted...
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