BMW, Audi looking at buying McLaren, report says

BMW and Volkswagen Group’s Audi unit are interested in buying British supercar maker McLaren Automotive Ltd., Automobilwoche reported.

BMW is eyeing the supercar business, while Audi is also looking at McLaren’s Formula 1 racing unit, Automobilwoche said, without specifying where it got the information. BMW will hold talks with Bahrain’s sovereign wealth fund Mumtalakat, which controls McLaren, at the beginning of next month, according to the report. Automobilwoche is a sibling publication of Automotive News.

Spokespeople for BMW and Audi didn’t immediately respond to requests for comment outside regular business hours.

McLaren has been attempting to repair its finances following the impact of the pandemic. In July, the Woking, England-based company raised 550 million pounds ($738 million) from existing investors and the sale of preference shares and equity warrants to new backers Ares Management Corp. and Saudi Arabia’s Public Investment Fund. It also raised $620 million from a bond issue.

Last month CEO Mike Flewitt resigned from the supercar maker after eight years at the helm.

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