The McLaren Group, which includes its Formula 1 team and its automotive business, has been boosted by an investment worth more than £200 million ($270m).
The group issued a statement this week confirming that it would be issuing new equity capital following the £203.8m investment by Nidala (BVI) Limited, which purchased 888,135 ordinary shares in the company.
"The proceeds for the new capital will be received over the coming year," read the statement. "This new capital, which is part of the Group’s simplification over the last 12 months, will significantly strengthen the Group’s balance sheet and underpins its ambitious growth plans laid out in its five-year business plan."
McLaren group executive chairman, Shaikh Mohammed bin Essa Al Khalifa, added: "This injection of capital is a vote of confidence in our future strategy and the Group remains as focused as ever in positioning for growth."
It's not clear where the money will be spent, although the F1 side of the business was hit by the loss of Honda which injected many millions into the team prior to their recent split.
According to a report on RaceFans.net, Michael Latifi, father of Formula 2 driver and Force India test driver Nicholas Latifi, has interests in Nidala.
