Private equity group TPG is in exclusive talks with supercar maker McLaren over the purchase of the firm’s iconic Woking headquarters. The sale-and-leaseback deal for the property, which would allow the carmaker to continue using it, could be worth around £180m.
Sales at the auto firm fell 60 per cent last year, with the company making a £312m loss as a result. It was also forced to lay off a quarter of its staff over the summer. Alongside the sale of its headquarters, McLaren has already raised £185m through the sale of a minority stake in its F1 racing team to MSP Sports Capital.
It is also looking to raise £500m in fresh equity over the next 12 months. The firm has brought on Talk Talk’s finance chief Kate Ferry in order to handle the raise. The move has prompted speculation that the auto maker is considering going public in the near future.
Source: City A.M.
By Edward Thicknesse
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