McLaren: No foundation in Stroll rumours

07/10/2014
NEWS STORY

McLaren spokesperson denies media claim that Canadian billionaire Lawrence Stroll is looking to buy in to the team.

Weeks after the Canadian billionaire, whose son Lance is part of the Ferrari Driver Academy, was linked with a buy-out of the Sauber team, the Italian media is linking him with McLaren.

According to Autosprint, Stroll is seeking to buy a shareholding in the Woking outfit. However, McLaren Group is a private company, not a listed company, and, like many private companies, its articles of association include so-called 'pre-emption rights' which dictate that any shares must first be offered for sale to the existing shareholders before they can be offered for sale to any outside party. Contacted by Pitpass, a McLaren spokesman duly dismissed the Autosprint claim on those grounds.

"McLaren Group has not received any notification from any of its shareholders in respect of a wish to sell any shares in the company," he said. "In order to be able to sell shares in the company, they must first be offered to the other shareholders. These rumours are therefore without a foundation."

Chris Balfe

Article from Pitpass (http://www.pitpass.com):

Published: 07/10/2014
Copyright © Pitpass 2002 - 2022. All rights reserved.