Mercedes takes full control of F1 team

Nov.20 (GMM) Mercedes-Benz has taken back total control of its Formula One team by buying the 40 per cent stake held by Aabar, the Abu Dhabi investment arm.

Niki Lauda, Former Formula One world champion
Niki Lauda, Former Formula One world champion

Photo by: xpb.cc

We reported in April that Aabar, who were then already watering down their involvement with Mercedes' parent Daimler, was set to pull out of the Brackley based Mercedes GP team.

Now, financial media sources Bloomberg and Reuters report that Mercedes has indeed bought back Aabar's stake.

Spokespeople for both Aabar and Mercedes confirmed the news, but would not comment on the value of the deal.

Niki Lauda, Mercedes' new non-executive chairman, currently wears 'Aabar' branding on his famous red cap.

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About this article
Series F1
Article type Breaking news
Tags aabar, abu dhabi, f1, gmm, lauda, mercedes