Mercedes-Benz completes Brawn GP takeover
The remaining stake in the Northamptonshire-based Mercedes-Benz Grand Prix team has been sold. Mercedes-Benz brand owner Daimler AG and Aabar Investments PJSC have purchased the final 24.9 per cent share from Brawn GP.
Daimler now owns 60 per cent of the team, with the remaining 40 per cent in the hands of Abu Dhabi-based investor Aabar.
Germany-based Daimler owns the Mercedes-Benz automobile brand and manufactures the luxury vehicles.
Dieter Zetsche, chief executive officer at Daimler, said: “This majority stake holding demonstrates our determination to build a long-term Formula One involvement on an even more successful platform.”
The terms of the acquisition, which requires regulatory approval, were not disclosed in a statement.
Brawn GP sold a 75.1 per cent stake of the team to Daimler and Aabar in November 2009.
