Highlights

Daimler close to fully acquiring McLaren, media say

(Reuters)
Updated: 2006-08-16 09:24

FRANKFURT, Aug 15 - DaimlerChrysler, the world's fifth largest carmaker, is close to acquiring the remaining 60 percent it does not own in Formula One team McLaren, German media reported on Tuesday.

Team boss Ron Dennis and Saudi investor Mansour Ojjeh each own 30 percent of McLaren.

Daimler acquired a 40 percent stake in 1999 for an estimated $400 million.

Daimler was not immediately reachable for comment.