BMW denies reported interest in buying McLaren; Audi says open to opportunities

BERLIN — BMW denied a report that it was interested in buying McLaren Automotive, while Volkswagen Group’s Audi said it was open to cooperation opportunities, without commenting specifically on the British sports-car maker.

BMW was said to be interested McLaren’s supercar business, while Audi is looking at its Formula 1 racing unit, Automobilwoche reported Sunday, without specifying where it got the information. Automobilwoche is a sibling publication of Automotive News.

A BMW spokesman said that the Automobilwoche article is “wrong.”

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

McLaren has been working to shore up 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.

Source link

Posted on

Leave a Reply

Your email address will not be published. Required fields are marked *