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Mercedes takes full control of F1 team

 Mercedes takes full control of F1 team
Mercedes Logo / Copyright: Batchelor / xpb.cc

Mercedes-Benz has taken back total control of its formula one team by buying the 40 per cent stake held by Aabar, the Abu Dhabi investment arm.

We reported in April that Aabar, who were then already watering down their involvement with Mercedes' parent Daimler, was set to pull out of the Brackley based Mercedes GP team.

Now, financial media sources Bloomberg and Reuters report that Mercedes has indeed bought back Aabar's stake.

Spokespeople for both Aabar and Mercedes confirmed the news, but would not comment on the value of the deal.

Niki Lauda, Mercedes' new non-executive chairman, currently wears 'Aabar' branding on his famous red cap.

 

Published Nov 20, 2012 9:20 am

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Comments (3)

 CollRaceovski CollRaceovski
Keep the carbon look on the car and demolish the opposition please!!!
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November 21, 2012 4:33 am
 Maotsi Maotsi
Hopefully it is gonna result in a winning formula
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November 20, 2012 4:07 pm