BMW has denied a report that it is interested in acquiring McLaren Automotive. We’ll remind you that earlier today, Autocar reported that Audi had acquired the McLaren Group, something the British company quickly denied.
A report from German publication Automobilwoche over the weekend asserted that BMW was interested in McLaren’s supercar business while Audi was thought to be pondering a purchase of its Formula 1 division. Automobilwoche’s report failed to specify where it got its information from.
Auto News reached out to BMW in regards to the report, with a spokesman from the automaker simply asserting that Automobilwoche’s story is “wrong.” Audi was also asked to comment on the story. It wouldn’t comment about McLaren specifically but admitted it “routinely considers various ideas for cooperation” as part of its “strategic deliberations.”
The report suggested that BMW would hold talks with Bahrain sovereign wealth fund Mumtalakat, which controls McLaren, at the start of December.
Read Also: McLaren Sells Its Applied Technology Division For Undisclosed Sum
McLaren has been looking for new investment ever since it was hit particularly hard by the coronavirus pandemic. In August, the company revealed it is selling its Applied technology division to a private investment ground. This announcement came just a few months after McLaren sold its headquarters in Woking for $237 million.
In July, the British automaker also announced a £550 million ($765 million) equity raise that included £400 million ($556 million) in funds from Saudi Arabia’s Public Investment Fund and global investment firm Ares Management. The company also sold a minority stake in its Formula 1 team for £185 million ($257 million) earlier in the year.
Claims of Audi apparently being interested in the McLaren F1 team is particularly interesting as fellow VW Group brand Porsche has also acknowledged that it could be interested in joining the Formula 1 grid in the future.
