Wednesday, March 2, 2011

Mercedes Benz finalizes Brawn Buyout

Mercedes Benz along with its partner Aabar Investment have completed the buyout of BRAWN GP, by acquiring the remaining 24.9% stake that Ross Brawn & Co. held upon the initial 74.1% purchase in November 2009.

Thus Mercedes now owns 60% of its racing team with Aabar Investment holding the remaining 40% of the racing team, whilst this Abu Dhabi firm is also Daimler AG’s largest single shareholder with a 9% stake in the parent company...

Guess Ross thought it was a good time to cash-in a la Patrick Head, without needing to go floating about the German Stock Market, eh?