Mercedes completes Brawn buy-out

Mercedes and its Abu Dhabi partner partner Aabar Investment have now completed their buyout of the former Brawn GP team.

Ross Brawn and his fellow shareholders had retained 24.9% after selling the rest in November 2009.

Daimler has increased its stake from 45.1 to 60%, while Aabar has increased its stake from 30 to 40%. Aabar also owns 9% of Daimler AG.

Until recently Mercedes had retained a 16% share of McLaren, but that has now passed back to the other shareholders.

Dr Dieter Zetsche, CEO of Daimler AG and Head of Mercedes-Benz Cars, said: “This majority stake holding demonstrates our determination to build a long-term Formula 1 involvement on an even more successful platform.

“Our company’s founders invented the automobile 125 years ago and the very first Mercedes was a racing car. These are the reasons why we see our Formula 1 programme as an important element of our brand history. The acquisition of a majority stake holding in our Silver Arrows team sends a clear signal that we intend to achieve technical and sporting success on world motorsport’s biggest and most important stage – and to do so in cost-effective conditions.”

Meanwhile Ross Brawn said: “Daimler and Aabar’s acquisition of the remaining 24.9 per cent stake in Mercedes-Benz Grand Prix will be a further step in the consolidation and strengthening of our team for the future. Motor racing, particularly Formula 1, is a very specialised industry, and we are privileged to have such strong and understanding partners as Daimler and Aabar to support our joint ambitions. I remain fully committed to our team for the long-term, along with the management team and all of our employees. We all look forward to the challenge of making our team successful, and proudly representing Mercedes-Benz and the racing tradition of the Silver Arrows.”

Dr Thomas Weber, board member and also Chairman of Mercedes Grand Prix Ltd, added: “This step will bring the colleagues from our Formula 1 chassis and engine groups even closer together and thereby help to develop our team step-by-step into a winning Formula 1 outfit. We now also fulfill Ross’ wish of being in a position to focus wholly on the complex technical challenges of Formula 1 and on his role as our team principal.”

For more on Ross and his fellow former shareholders, check the following:

https://adamcooperf1.com/2010/09/14/brawn-gp-made-98-5m-profit-in-2009/

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