Bojan Vrbnjak
Group McLaren and the associated team Formula 1 you can take a break. A company that ran into financial difficulties as a result of the coronavirus crisis and faced the threat of bankruptcy, managed to obtain the necessary money.
State Bank Bahrain is with a financial injection of around € 160 million McLaren protected from impending doom. British traditional team just two months after the onset of the coronavirus crisis, it launched a fundraising campaign for the first time. In mid-May, they also pledged as collateral factory and historical collection of Formula 1 racing cars in Woking. However, one part of the creditors prevented the encumbrance of the property.
McLaren he then tried to realize his plan through legal means. Group McLaren has revealed that it will have to file for bankruptcy if by July 17 they will not collect the sum of the amount £ 280 million. They had to be fired this month 1.200 employees, of which 70 from the team Formula 1. Otherwise he was McLaren successful in speeding up the case and leading it to various cases in the shortest possible time, but the British government refused them a loan of £ 150 million. In parallel, talks were held with the state bank Bahrain NBB.
Yesterday, the week before the inaugural race of the season in Austria, however, a solution was reached to initially prevent the embarrassment of a possible bankruptcy of the traditional team from Woking. NBB approved a loan of £ 150 million, which is supposed to ensure the existence of a team and a company McLaren in 2021. However, this loan did not come about by chance, because Bahrain has been since 2007 in McLarn active as a shareholder. State Fund Bahrain Mumtalakat Holding Company is initially c McLaren entered s 30 percent and increased its share to over the years 56 percent. The said fund is also 44 percent shareholder of the bank NBB.
