Bahrain’s Sheikh Mohammed bin Essa Al Khalifa will become the executive chairman of F-1 McLaren’s Group after Ron Dennis sold his stakes in British Racing and manufacturing conglomerate McLaren Technology Group Ltd. and McLaren Automative Ltd. and stepped down as Chairman.

According to an e-mailed statement, a new holding company McLaren Group will be combining both businesses and sovereign wealth Fund Bahrain Mumtalakat Holding Co., and TAG Group will still be the majority shareholders.

Sheikh Mohammed bin Essa Al Khalifa said: “We’ve also secured finance in order to stimulate growth in all our businesses, consolidate our financial structure and reorganize our shareholder base.”

See Also

For more information, read here.

Bahrain-based digital platform and publication for startups in the Middle East. Exclusive events, in-depth workshops, insightful content, and informative news. In strategic partnership with Tamkeen Bahrain, Zain Bahrain, National Bank of Bahrain, Zoho, Tenmou, and StartUp Bahrain.

Startup MGZN © 2020. All Rights Reserved.