Singapore billionaire Peter Lim buys into McLaren

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.
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McLaren Automotive, the new high-performance sports car company based at the McLaren Group headquarters in the UK, today announces that Singapore-based businessman Peter Lim has completed a significant investment in the company. Lim, a successful business leader and philanthropist in Singapore, joins the McLaren Automotive Board of Directors with immediate effect.

With Peter Lim's investment, McLaren marks another major milestone in its global growth strategy. The introduction to the McLaren Automotive board of an influential and well respected partner in Asia will strengthen the company's corporate and trading influence in the region at a time of encouraging demand for the company's first 'pure' McLaren sports car, the MP4-12C. Demand is strong with the retailers in the Asia-Pacific region confirming orders that account for around 18 months of production.

Ron Dennis, Executive Chairman of McLaren Automotive and McLaren Group said: "On behalf of the McLaren Automotive board, I welcome Peter Lim to McLaren and look forward to working closely with him as our company expands into the Asia region.

"This is a very exciting time for us and, as part of our growth strategy, we have been absolutely rigorous in ensuring that the right partners join us; those who are focused on supporting McLaren Automotive through investment that generates strong returns and strategic growth for the future. Peter Lim's track record in Asia as a highly respected business leader adds further quality to our board in this highly competitive business environment at an exciting time for the company."

With the launch of the first in the range of McLaren sports cars, the MP4-12C, through a brand new global retail network, McLaren is establishing itself as the world's most exciting new sports car company. McLaren Automotive is focused on the development of a range of innovative, technologically ground-breaking, and bespoke high-performance sports cars, hand-built in a brand new manufacturing facility (the McLaren Production Centre) at its UK headquarters, and full of Formula 1-inspired technologies and development processes.

McLaren Automotive is designing, developing, and manufacturing a range of exclusive and premium 'pure' McLaren sports cars; selling and servicing the range through its global network of dedicated McLaren retailers. An initial network of 35 experienced retailer partners with a reputation for excellent customer service, and a passion for McLaren's vision, will represent McLaren across 19 countries worldwide in 2011, including Hong Kong, Japan, and Singapore. McLaren Automotive has started distributing the first MP4-12Cs to retailers and customers in the UK and mainland Europe, with distribution in the Asia-Pacific region anticipated from late-2011. The retail network is set to expand conservatively from 2012, including further growth in the Asia region.

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