McLaren Shareholders Back Shakeup Priming Bahrain as New Owner

McLaren Group shareholders backed a full recapitalization of the cash-strapped British super-car maker, potentially paving the way for Bahrain’s sovereign wealth fund to take full control.

The move will introduce a simpler share structure and governance process and help the automaker expand into new markets, McLaren and majority shareholder Mumtalakat Holding Co. said in a joint statement.