Cleary Gottlieb represented TAG Group Limited in a transaction involving the simultaneous settlement of litigation with Ron Dennis, the formation of a new holding company for the two McLaren groups, the acquisition of Ron Dennis’s stake in McLaren Technology Group Limited (MTGL) and McLaren Automotive Limited (MAL) and the bringing together of MTGL and MAL and their respective subsidiaries under the new holding company, McLaren Group Limited. McLaren Group is owned by TAG, Bahrain Mumtalakat Holding Company B.S.C.(c) and the other current MAL shareholders (excluding Mr. Dennis).
McLaren Group is valued at £2.4 billion, employs 3,400 people located largely at its iconic McLaren Technology Centre headquarters in Woking, UK, and in 2016 had a combined turnover of £898 million.
TAG Group Limited first invested in McLaren in 1983 and is the longest standing of the new McLaren Group’s shareholders.