We, as in the “Royal” We, as in the Kingdom of Bahrain, as in Mumtalakat Holdings, the totally Bahraini government owned company which is supposed to also own all of the government companies and companies which the government has a better than 50% stake in, nows owns 30% of McLarren!
How sweet is that?
Here’s the gen:
LONDON, Jan 9 (Reuters) – McLaren boss Ron Dennis and Saudi investor Mansour Ojjeh are selling half their stakes in the Formula One team to Bahrain’s Mumtalakat Holding Company, McLaren said on Tuesday.
A statement on the team’s Web site said Mumtalakat had “entered into an agreement, by way of a strategic investment, to acquire a 30 percent stake in McLaren Group Limited following a period of extensive discussions with the existing McLaren Group shareholders.”
Mumtalakat is wholly owned by the Kingdom of Bahrain.
McLaren said that the new shareholding structure, after completion of the deal, would leave Mercedes parent DaimlerChrysler with 40 percent and Dennis and TAG Group (Holdings) with 15 percent each.
Oooooooh.. we now (part) own assets like The Kid!
Shall I switch my allegiance from the prancing horse to an outfit that has not won anything in 7 years?
Nope… my blood is red, Ferrari Red and shall remain so for at least another year.
April 15th is the date.
Bring it on BIAATCHE!
Filed in: Entrepreneurship