McLaren Group - Ownership

Ownership

On 3 January 2000, Daimler AG (then DaimlerChrysler AG) exercised an option to buy 40 percent of the then TAG McLaren Group. Since 1995, Daimler had supplied British-built Mercedes-Benz engines to the McLaren Formula One team under the Mercedes-Benz brand. Ron Dennis and the Techniques d'Avant Garde Group (owned by Mansour Ojjeh) each retained a 30 percent share. In November 2003 TAG McLaren Group announced it would change its name to McLaren Group and its associated companies would also drop the TAG name.

In August 2006 it was reported that Daimler was considering acquiring the 60 percent of McLaren Group held by Dennis and Ojjeh. However in January 2007, it was announced that Bahrain Mumtalakat Holding Company, wholly owned by the Kingdom of Bahrain, intended to purchase 15 percent from both Dennis and Ojjeh. The shareholding became Daimler 40 percent, Bahrain Mumtalakat Holding Company 30 percent, Ron Dennis 15 percent, and Mansour Ojjeh 15 percent. On 16 November 2009, Mercedes bought Brawn GP and announced that McLaren would buy back Daimler's 40 percent share of McLaren in a deal which reported to be worth about £0.5bn. The McLaren Group brought back Daimler's shareholding over a gradual process of two years, before buying back the last shares at the end of 2011. The shares were divided between the other shareholders, with the Mumtalakat Holding Company currently holding 50%, and Ron Dennis and the TAG Group holding 25% each.