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BAHRAIN CONFIRMS STRATEGIC INVESTMENT IN McLAREN GROUP

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The Bahrain Mumtalakat Holding Company a wholly owned company of the Kingdom of Bahrain announced today that it had entered into an agreement, by way of a strategic investment, to acquire a 30% stake in McLaren Group Limited following a period of extensive discussions with the existing McLaren Group shareholders, Ron Dennis (McLaren Group Chairman & CEO), TAG Group (Holdings) SA and DaimlerChrysler AG.

As is required, an application is currently being made for the necessary competition law clearances which are expected to be received within a period of 6 weeks.

Other than to confirm that the new shareholding structure of the McLaren Group post completion would become 40% DaimlerChrysler, 30% Mumtalakat Holding Company, 15% Ron Dennis and 15% TAG Group (Holdings) SA and that the company will continue to be managed by its existing management team, no further comment will be made at this stage. Upon regulatory clearances being obtained and completion a full media statement will be issued.

Mclaren Official Press Release from their Website

Written by Formula One Addict

January 9th, 2007 at 5:05 pm

Posted in formula one,mclaren

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