McLaren CEO Ron Dennis is "trying to take back control of the McLaren Group," according to Andrew Benson of the BBC. The 67-year-old has agreed with his fellow shareholders to "a price at which he could take a majority shareholding if he can raise the necessary money." Dennis owns 25% of the McLaren Group, "long-time partner Mansour Ojjeh 25% and the Bahraini royal family's Mumtalakat investment fund the remaining 50%." All parties will "remain shareholders if the deal is finalized." A McLaren spokesperson said, "No transaction has taken place, but the shareholders have had discussions on how to best facilitate and enhance the future growth of the McLaren Group." Dennis has not yet raised the money required to "buy the shares he would need to take his holding past 50%, and the other shareholders are not obliged to sell if he does." McLaren refused to say how much Dennis needed to raise, "but the company is said to be worth" about £1B ($1.57B) so he would require at least £250M ($393.4M). The Bahrainis reportedly "want to remain involved in McLaren, contrary to speculation." It is "widely known within F1 that there has been tension at board level at McLaren in recent months following the deterioration of the relationship between Dennis and Ojjeh." The two joined forces in McLaren in the early '80s and "have been business partners ever since" (BBC, 12/12).
