Mercedes Benz to buy Brown GP team
- Source: Global Times
- [15:51 November 17 2009]
- Comments
A computer-generated image of a Mercedes Formula One racing car (Photo: Daimler)
German automaker Mercedes Benz announced it would take over Brown GP team by buying a 75.1 percent share Monday. The new team will be named Mercedes Benz Grand Prix Team and it will continue to be led by Ross Brown.
A computer-generated image of a Mercedes Formula One racing car (Photo: Daimler)
"Mercedes will attend the FIA Formula One World Championship with their own team," said Dieter Zetsche, CEO of Daimler group. He added a 45.1 percent share of the 75.1 percent share which were bought by Benz belong to Daimler, and the other 30 percent belongs to Aabar Investments PJSC (Aabar). In March this year, Aabar purchased a 9.1 percent share of Daimler. The owners of Brown GP team (Ross Brown, Nick Fry and other stockholders), hold the remaining 24.9 percent share.
Benz didn't announce the drivers of the new team until now. But Ross Brown will continue to the team leader, according to Zetsche.
Agencies and Wang Yang contributed to this story
