McLaren looks to quash takeover rumours

McLaren Group has dismissed reports that it is to being sold to Audi, part of Germany's Volkswagen Group.

It was first reported at the weekend by German title Automobilwoche that both Audi and BMW were interested in the UK brand.

Since then, BMW has denied the reported while Audi told Reuters it was open to corporation opportunities, although it did not comment specifically on McLaren.

But on Monday, McLaren – which is majority owned by Bahrain’s sovereign wealth fund Mumtalakat – looked to quash takeover speculation.

In a statement, it said: “McLaren Group is aware of news media report stating it has been sold to Audi. This is wholly inaccurate and McLaren is seeking to have the story removed.

“McLaren’s technology strategy has always involved ongoing discussions and collaboration with relevant partners and suppliers, including other carmakers. However there has no change in ownership in the structure of the McLaren Group.”

Audi has so far not commented further. VW already supercar brand Lamborghini through Audi, as well as Porsche.

McLaren has a high-end road car division, McLaren Automotive, as well as its Formula 1 interests.

In July, McLaren raised £550m from a number of investors, including Saudi Arabia’s Public Investment Fund. It has also sold its factory in Woking, Surrey, to a US investment group in a sale and leaseback deal.