BMW "McLaren Acquisition Rumors Are Groundless"
[Asia Economy Reporter Yujin Cho] German automaker BMW has officially denied rumors of acquiring British supercar manufacturer McLaren.
On the 14th (local time), according to major foreign media, a BMW spokesperson stated, "Reports suggesting that BMW is interested in acquiring McLaren's supercar business are unfounded."
Audi, which is also reportedly eyeing the acquisition of McLaren alongside BMW, did not directly mention McLaren but said it "sees opportunities for cooperation in various ways," leaving the possibility of acquisition open.
Earlier, the German automotive magazine Automobilwoche reported that BMW and Audi are exploring the acquisition of McLaren, with BMW showing particular interest in McLaren's supercar business.
It also reported that BMW is negotiating with Mumtalakat, the Bahrain sovereign wealth fund and a major shareholder, for a stake acquisition.
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Headquartered in Woking, UK, McLaren faced significant financial difficulties due to a decline in sales following the COVID-19 pandemic. To alleviate its cash flow issues, it raised $620 million through bond issuance and sold part of its shares to the Saudi Arabian sovereign wealth fund and others.
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