Friday, November 23, 2012

Daimler gains full control of Mercedes F1 team after buying out Middle Eastern stake

Daimler gains full control of Mercedes F1 team after buying out Middle Eastern stake

When rumors surfaced earlier this year regarding the desire of Abu Dhabi's Aabar Investments to completely shed its stake in Daimler, no one knew why and neither party would comment. The Middle Eastern investment firm took a 9.1-percent stake in Daimler in 2009, had dropped that to 3.1 percent earlier this year, then got rid of the remainder in October. Part of that original deal in 2009 was a 40-percent share in the Mercedes Formula One team, and Reuters has reported that Daimler just bought that back as well.

Autoblog , Daimler gains full control of Mercedes F1 team after buying out Middle Eastern stake, Daimler gains full control of Mercedes F1 team after buying out Middle Eastern stake