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McLaren Group buys back majority of Mercedes stake

NEWS STORY
18/03/2010

McLaren team boss Martin Whitmarsh has revealed that its parent company has bought back the majority of the 40 percent shareholding previously owned by Mercedes.

The German manufacturer announced its intention to sell its stake in the British outfit late last year when announcing its plans to buy the Brawn Grand Prix team.

Speaking at his team's Woking HQ today, following the launch of the company's new MP4-12C supercar, Whitmarsh confirmed the buyout, telling Reuters: "I think it is about 11 percent that is still owned by Mercedes, but it's not an important or significant number."

The McLaren Group has bought the (approximately) 29 percent shareholding from Mercedes, leaving Ron Dennis and Mansour Ojjeh with 15 percent each while a further 30 percent is held by Bahrain's state holding company Mumtalakat.

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