We Own McLaren!

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.

“The company will continue to be managed by its existing management team,” it added on www.mclaren.com.
The Guardian

Fernando Alonso in McLaren liveryOooooooh.. 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!

9 thoughts on “We Own McLaren!”

  1. Let’s see
    Mubadala owns 5% of Ferrari, so Mumtalakat goes and buys 5% of McLaren.

    Smells like plagiarism to me. What next, are you guys planning a McLaren themed project in Manama? (read: Ferrari themed projet in Abu Dhabi)

  2. My friend, if that would translate to jobs in Bahrain, I don’t care what they buy… but you can rest assured that I would be rooting for AUH as they bought a piece of my favourites…

    O’oh, hang on a minute, does that make me a traitor to my country?

    :ninja:

  3. looks like their going on a shopping spree these days read this.

    http://english.bna.bh/?ID=54491

    so hes going to pay US 435,000(annually) to put his name on an international award? why?

    not like our public schools can’t use the money.

  4. investing in the circuit then owning a formula 1 team.. i’m not a big fan of putting all your eggs in one basket.. diversification strategy must’ve went awry somewhere..

  5. “investing in the circuit then owning a formula 1 team.. i’m not a big fan of putting all your eggs in one basket.. diversification strategy must’ve went awry somewhere..”

    Actually, Mumtalakat Holdings is doing the exact opposite my friend. If you were to review its list of business transactions ever since its creation and initial operations then you would see that diversification is among its top priorities.

  6. Mumtalakat is looking at companies like Abla and Gulf Air more strategically, hopefully this will help us have clustered aluminum & downstream aluminum manufacturing in Bahrain to fully benefit from the smelter… same thing with the circuit we will start having more companies testing, and being here… while McLaren hopefully can utilize Bahraini made products, and if we continue to encourage companies like RUF to be set up… it will translate into Bahraini jobs, added “good” tourism i.e. no single saudi drunks .. and we would enter into a niche, hi-tech automotive manufacturing market…

    It is important to own a stake or set up incentives for big manufacturers to be in Bahrain, this will hopefully strengthen our partnership with Daimler Chrysler as well….

  7. Great move, thumbs up for Mumtalakat board of directors. In think they are the most educated and experienced board of directors of any company in Bahrain.A good selection indeed.

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