Quote:
Originally Posted by bjohnsonsmith
I thought Dennis made an offer of around £1.5bn to Mumtalakat and Ojjeh for McLaren, only for it to be rejected by his fellow shareholders as they wanted Dennis gone? Dennis then took those shareholders to the High Court, in order prevent them removing him from McLaren but lost the case and was subsequently removed in November 2016.
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That is so; they forced him to stand down as principle of the various companies, but he still retained his shareholdings in two of the companies; one of 11% and the other of 25%. It is those that they agreed to buy in July, but those purchases will be made in tranches, with the first of them taking place only fairly recently in the last couple of months. And they had to borrow the money to effect the purchase.