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    • Bahrain Company Buys 30% Of McLaren

    Posted on January 9th, 2007 by Oliver White in Other Events

    Mumtalakat Holding Company Buys 30% of McLarenMcLaren announced on their website earlier today that Mumtalakat Holding Company – wholly owned by the Kingdom of Bahrain – is about to complete the purchase of a 30% stake in the McLaren group. While the deal is yet to be cleared through competition regulators, McLaren envisage that everything will be completed in six weeks. This means that Daimler-Chrysler – who supply the team with Mercedes engines – will continue with their 40% stake, but Ron Dennis and the TAG Group will reduce to 15% each. The statement went on to say that there will be no change in the management of the Formula One team, headed by Ron Dennis from their Woking headquarters.

    Formula One, F1, McLaren, Ron Dennis, Mumtalakat Holding Company, Kingdom of Bahrain

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