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.”
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