Official: Singapore billionaire Peter Lim buys into McLaren
Filed under: Earnings/Financials
The Formula 1 circus is still a little more than a month away from sailing in to Marina Bay for the 2011 Singapore Grand Prix, but an outfit like McLaren isn’t accustomed to sitting around and waiting. So they’ve brought a little bit of Singapore to them.
The move revolves around one Peter Lim. The billionaire Singaporean businessman owns, among other properties, a series of bars and restaurants across Asia themed after the famed soccer team Manchester United, but after failing to acquire the team with a half-a-billion-dollar bid, has apparently turned to supercars instead.
With an undisclosed investment, Lim has joined the likes of chairman Ron Dennis, TAG founder Mansour Ojjeh and Bahrain Mumtalakat Holding Company in sharing ownership of McLaren and sitting on its board of directors. Lim apparently hopes to help McLaren Automotive expand into the Asian market, where it is preparing to launch the new MP4-12C late next year. Press release after the jump.
Continue reading Singapore billionaire Peter Lim buys into McLaren
Singapore billionaire Peter Lim buys into McLaren originally appeared on Autoblog on Mon, 22 Aug 2011 07:56:00 EST. Please see our terms for use of feeds.
