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BMW denies interest in buying McLaren – report

According to a report in Automobilwoche, BMW is looking to acquire the supercar business McLaren Automotive, while Audi is eying McLaren’s Formula 1 team

BMW has denied media reports that it is interested in buying acquiring McLaren, the Formula 1 team and supercar maker.

According to a report by the German publication Automobilwoche at the weekend, BMW and Volkswagen subsidiary Audi are both interested in buying McLaren, with BMW looking to acquire the supercar business McLaren Automotive and Audi eying McLaren’s Formula 1 team.

BMW said the report was wrong, Reuters reported.

Meanwhile, Audi told Reuters that it regularly considers different cooperation opportunities, but it did not comment on the specific case of McLaren.

McLaren recently raised £550mln from existing investors and new backers Ares Management Corp. and Saudi Arabia’s Public Investment Fund in order to boost its finances following the impact of the COVID-19 pandemic.

It also raised $620mln from a bond issue.

Last month, chief executive Mike Flewitt stepped down after more than eight years in charge of McLaren.

Read More: BMW denies interest in buying McLaren – report

2021-11-15 04:30:00

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