On the same day that Mercedes took a controlling interest in the Brawn GP Formula One team, it emerged that the manufacturer will sell its 40 per cent stake in McLaren back to the McLaren Group.

Mercedes will continue to supply engines free of charge to McLaren for the next six years, and the team's official name will remain Vodafone McLaren Mercedes. However, the manufacturer's 40 per cent stake will be sold back to its fellow shareholders for a fee reported to be in the region of €200 million - though the effect of the engine deal and the continuing title sponsorship on the amount of cash that changes hands is currently unknown.

• Mercedes takes control of Brawn GP

The arrangement, described by McLaren chairman Ron Dennis as "a win-win situation", is expected to see Brawn GP's world champion driver Jenson Button switch to McLaren, where he will partner 2008 world champion and fellow Briton Lewis Hamilton.

"This is a win-win situation, for both McLaren and Daimler," said Dennis on the McLaren website. "I've often stated that it's my belief that, in order to survive and thrive in 21st-century Formula One, a team must become much more than merely a team. That being the case, in order to develop and sustain the revenue streams required to compete and win Grands Prix and World Championships, companies that run Formula One teams must broaden the scope of their commercial activities.

"Nonetheless, all of our partners will of course continue to play a crucial role in our Formula One programme. For that reason, and because the engines they produce are very competitive, we’re delighted that Mercedes-Benz has committed to continue not only as an engine supplier but also as a partner of ours until 2015 – and perhaps thereafter."

Brawn, meanwhile, will be rebranded as Mercedes Grand Prix.