A Canadian businessman, who is father of Force India test driver Nicholas Latifi, has become a shareholder in the McLaren Group.
Nidala (BVI) Limited, controlled by Michael Latifi, has made an investment reported to be over £200 million for around 10 percent of the group. That makes Latifi the company's first new shareholder since the departure of Ron Dennis in late 2016.
The McLaren Group encompasses the Formula One racing team as well as its Automotive and Applied Technologies divisions. Announcing the news on Monday, McLaren said the investment will "significantly strengthen the group's balance sheet and underpins its ambitious growth plans"
"I have been an admirer of the McLaren brand and its businesses for some time," Latifi said.