Toto Wolff sells stake in HWA

Mercedes motorsport boss Toto Wolff has sold a stake in HWA, the company that builds and develops the German manufacturer's DTM cars.

Wolff, who was vice chairman of the HWA supervisory board until 2013, owned a a 49 per cent stake in the company since 2006.

He has now sold a 12 per cent stake to Hans Werner Aufrecht, the founder and chairman of the supervisory board of HWA AG.

Aufrecht owns now 40 of the shares in the company.

The purchase price of the shares was 18 euros, according to HWA.

"We are delighted that Mr Aufrecht has increased his shareholding to around 40 per cent," said Ulrich Fritz, HWA CEO.

"He founded the company that is today Mercedes-AMG GmbH and then HWA AG in 1998, so we are pleased that he will remain closely associated with the company in the future.

"This commitment from Mr Aufrecht is a strong signal for the entire company and its future prospects."

 

 

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About this article
Series DTM
Teams HWA AG
Article type Breaking news