Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE  
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel,   BELGIË  
 
Tel: +32 229 -91111. Fax: +32 229 -64301. E -mail: COMP -MERGER -REGISTRY@ec.europa.eu . 
  EUROPEAN COMMISSION  
Brussels, 29.03.2022  
C(2022 ) 2128 final  
PUBLIC VERSION  
USB O’Connor LLC  
One North Wacker Drive   
IL 6060 6 - Chicago  
USA  
 
MSP Racing Holding s L.P 
295 Madison Avenue, 18th Floor  
New York 10017  
USA  
 
McLaren Group Limited  
McLaren Technology Centre, Chertsey 
Road,   
Woking, Surrey GU21 4YH  
United Kingdom  
Subject : Case M.10586 – MGL / MSP / O’CONNOR / MCLAREN RACING  
Commission decision pursuant to Article 6(1)(b) of Council Regulation 
(EC) No 139/20041 and Article 57 of the Agreement on the European 
Economic Area2  
Dear Sir or Madam,  
1. On 7 March 2022 , the European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger  Regulation by which  UBS 
O’Connor LLC (“O‘Connor”, United States), controlled b y UBS AG (“UBS”, 
Switzerland) , MSP Racing Holdings, L.P. (“MSP”, United States)  and McLaren 
Group Limited (“MGL”, United Kingdom), controlled by Bahrain Mumtalakat 
Holding Company B.S.C.(c) (“Mumtalakat, Bahrain) , will acquire within the meaning 
of Article s 3(1)(b)  and 3(4)  of the Merger Regulation joint control over the whole of  
                                                 
1 OJ L 24, 29.1.2004, p. 1 ( the ‘Merger Regulation ’). With effect from 1 December 2009,  the Treaty on 
the Functioning of the European Union ( ‘TFEU ’) has introduced certain changes, such as the 
replacement of ‘Communi ty’ by ‘Union ’ and ‘common market ’ by ‘internal market ’. The terminology 
of the TFEU will be used throughout this decision.  
2  OJ L 1, 3.1.1994, p.  3 (the ‘EEA Agreement ’). 

2 McLaren Racing Limited (the “JV”, United Kingdom)  by way of amendment to the 
Limited Liability Company Agreement and the Framework Governance Agreement .3 
2. The business activities of  the undertakings concerned  and the JV are the following : 
 for or O’Connor: a US -based  investment adviser providing investment advisory 
services to its clients, which include investment funds and sophisticated investors , 
 for MSP:  a US -based privately held i nvestment advisory firm which manages 
investments in professional sports teams, leagues, and businesses in the sports 
ecosystem , 
 for MGL: holding company for the business activities of the McLaren group. The 
McLaren group’s business comprises two key divisions, i.e. (i) McLaren 
Automotive Limited, a provider of luxury high performance cars; and (ii) the JV , 
 for the JV:  the development, production, racing and marketing in connection with 
its participation in Formula 1 motorsport. In addition to its Form ula 1 business, 
McLaren Racing is also active in other motorsport leagues such as the US -based 
IndyCar Series where McLaren Racing currently cooperates  with, and provides 
technical support to, the US racing team Arrow McLaren SP . 
3. After examination of the n otification, the European Commission has concluded that 
the notified operation falls within the scope of the Merger  Regulation  and of 
paragraph 5(a) of the Commission Notice on a simplified procedure for treatment of 
certain concentrations under Council Re gulation (EC) No 139/2004 .4 
4. For the reasons set out in the Notice on a simplified procedure, the European 
Commission has decided not to oppose the notified operation and to declare it 
compatible with the internal market and with the EEA Agreement. This decision is 
adopted in application of Article 6(1)(b) of the Merger  Regulation  and Article 57 of 
the EEA Agreement . 
For the Commission  
 
 
(Signed)  
Olivier GUERSENT  
Director -General  
                                                 
3  Publication in the Official Journal of the European Union No C 120,15.03.2022 , p.28. 
4  OJ C 366, 14.12.2013, p. 5 .