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Current principal Ross Brawn will be retained, and keeps a 24.9% stake in the team, with Mercedes-Benz having the remaining 75.1% stake in partnership in collaboration with Abu Dhabi investment group Aabar Investments.
The deal also means that Mercedes-Benz is set to withdraw its 40% stake it currently holds in the McLaren team by 2011, although McLaren has confirmed that it will be supplied with Mercedes-Benz engines until at least 2015, and retain its silver and red livery.
