McLaren 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.
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