Sauber buys out Red Bull.
Peter Sauber has confirmed that he has re-purchased Red Bull's stake in his F1 team and that he now plans to sell the shares to Credit Suisse.
Sauber told the BBC: "I have bought back the shares of Sauber Holding AG from Red Bull GMBH."
"Credit Suisse will take over these shares in order to place them with different investors."
"It's my objective to secure by this transaction the financial basis of Sauber Holding and thus the key factor of success for the Sauber team on a long-term basis."
Peter Sauber has confirmed that he has re-purchased Red Bull's stake in his F1 team and that he now plans to sell the shares to Credit Suisse.
Sauber told the BBC: "I have bought back the shares of Sauber Holding AG from Red Bull GMBH."
"Credit Suisse will take over these shares in order to place them with different investors."
"It's my objective to secure by this transaction the financial basis of Sauber Holding and thus the key factor of success for the Sauber team on a long-term basis."
Sauber added Red Bull could remain a sponsor of the team but negotiations with Red Bull boss Dieter Mateschitz were on-going.
