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Last Updated: Tuesday, 9 January 2007, 14:46 GMT
Bahrain company buys into McLaren
Mumtalakat Holding Company - which is wholly owned by the Kingdom of Bahrain - has agreed to buy a 30% stake in Formula One team McLaren.

Parent company DaimlerChrysler will still own 40% of McLaren but the holdings of team boss Ron Dennis and TAG will be reduced to 15% each.

A team statement said there would be no change to the existing management team.

The deal must be cleared by competition regulators, which McLaren envisage will take up to six weeks.



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