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Daimler assumes control of Mercedes F1

Daimler takes complete control of the Mercedes F1 team
Daimler has assumed full control of the Mercedes F1 team after confirming that it has purchased the shares that were owned by Aabar Investments.

Aabar purchased a stake in the team when it took control of the Brawn GP team alongside Daimler in late 2009, with the team then being rebranded the following season as Mercedes.

With Mercedes and Aabar then buying the 24.9 per cent stake owned by the team's management in 2011, the pair found themselves sharing ownership of the team on a 60-40 basis.

Aabar has now sold its shareholding to Mercedes however in a deal which will see the German carmaker assume complete control of the Brackley-based team.

The move comes at a time when Aabar is severing its ties with Mercedes, having already sold its remaining stake in the company that produces cars for the road.

The terms of the F1 deal haven't been announced.



Tagged as: Mercedes , Brawn , Daimler , aabar

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homeheroe - Unregistered

November 19, 2012 3:29 PM

to rhino: they will have bought it at a snap of the price aabar had paid for it back in the day.. F1 makes me vomit. there is no sport left in this circus. just lots of money in the hands of the wrong people.

JoaoSousa

November 19, 2012 7:42 PM

Unfortunately, evelcyclops is right. We all have come to know all too well how quickly manufacturers throw their toys out of the pram when things go awry. I don't see Mercedes staying that much longer if they're gonna be fighting Toro Rosso. In terms of brand image, that's negative return. I'm not saying they'll pull out as engine suppliers, but I'm sure they'll do a Renault and sell the team itself in the near future.



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