wesley123 wrote:No, because every part o this group has their own funds, management etc. They are just housed under one building and under a single name, McLaren.
Thats not true.
1) Mclaren Racing, the only cash cow in Mclaren group has been indirectly funding the automotive project since 2 years ago when Mclaren started the P11 road car project.
Quote : "Racing has been the cash cow in our portfolio, Group has been loaning money to Automotive. We separated Automotive out, and Automotive had to pay money back into the group to balance that, so it was an accounting process"
http://formula-one.speedtv.com/article/ ... it-in-2009
2) In the same article, it was also mentioned that as of Jan. 1 2010, Daimler 40% shareholding in Mclaren Group was reduced to 16%. Come next years, the remaining shareholders of Mclaren Group will have to raise or set aside more money to buy out Daimler 16% shareholding.
3) Mclaren Group has recently taken a GBP40m loan from HSBC to fund its share in the automotive project (1st time in the last 5 years). The loan is secured on McLaren's intellectual property, cash in the bank, and its land and buildings, which had a book value of £193.8m at the end of 2008. On top of that, Mclaren is also seeking to raise GBP340m from private investors for 49% stake in the company to fund the automotive project. Which also mean that the Mclaren Group will have to contribute the other 51% worth of resources and IP to fund this project.
http://www.independent.co.uk/news/busin ... 40508.html
4) Since the establishment of the MP-12C road car projects, Martin Whitmarsh has also been appointed deputy chairmain of Mclaren automotive division on top his CEO position at Mclaren Group.
Beside Martin, Mclaren Group chairman Ron Dennis, CFO Andy Myers, legal counsel Tim Mumane and shareholders Mansour Ojjeh and Sheikh Mohammed Bin Essa al-Khalifa, are also on the board of the newly set up Automotive division.(Another example of spliting resources)