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Dennis to buy back majority stake in McLaren
Sutton Images Enlarge Ron Dennis is planning to acquire a majority shareholding in McLaren by buying back some of the stake held by Bahrain's sovereign wealth fund and Mansour Ojjeh. Currently, Dennis and TAG boss Ojjeh each own 25% with Bahrain's Mumtalakat holding the remaining 50%. No details of the change in share ownership has been announced but McLaren has confirmed that share purchase agreements (SPAs) were signed by all three shareholders last August. "When executed, the SPAs will trigger the passing of a number of shares, from Mumtalakat and TAG, to Ron Dennis," a McLaren spokesman told Reuters. "Final execution of the SPAs is expected to take place next year. The...
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