- 28 Feb 11, 13:17#241549
More money being shuffled. I hope Brawn at least got paid.
It has been confirmed that Daimler, parent company of Mercedes-Benz, and Abu Dhabi-based Aabar Investments have now bought out 100 percent of the Mercedes GP Formula 1 team from Team Principal Ross Brawn, who until recently owned just under a quarter of the Brackley-located outfit. The World Champion team of 2009 was purchased by Englishman Brawn following the sudden departure from the sport of former owners Honda in December 2008, although Daimler AG and Aabar Investments have now completed their full acquisition of the squad.
‘Daimler AG today announced that, together with Aabar Investment PJS, it has acquired the remaining 24.9 percent stake in Mercedes-Benz Grand Prix Ltd located in Brackley, UK from the management team led by Team Principal Ross Brawn,’ reads an official statement.
‘Daimler and Aabar together now own 100 percent of Mercedes-Benz Grand Prix. Daimler has increased its stake from 45.1 percent to 60 percent, while Aabar has increased its stake from 30 to 40 percent. Aabar is the biggest single shareholder of Daimler AG, with nine percent. The acquisition is conditional on clearance from the German Bundeskartellamt.
On 16 November 2009, Daimler AG acquired a 45.1 per cent stake in Brawn GP, the 2009 World Champion team, and together with Aabar held a majority stake of 75.1 per cent.
The acquisition by Daimler AG of a majority shareholding in the Formula 1 team sends a clear signal concerning the long-term ambitions for the company's premium brand in Formula 1.’
"I don't want to be part of a forum where everyone has differing opinions." Boom...
