Daimler AG announced today that it has acquired with SPJ Aabar Investments Abu Dhabi (United Arab Emirates United Arab Emirates), the remaining 24.9 percent stake in the Mercedes-Benz Grand Prix team boss Ross Brawn. Aabar and Daimler have accounts for 100 percent of Mercedes Grand Prix. With 9 percent of Aabar is also the largest shareholder of Daimler AG.
Daimler Chrysler has increased its stake from the current 45.1 percent to 60 percent, while Aabar has increased its stake to 40 percent. Transaction is subject to approval by the Federal Cartel Office. Daimler was the November 16, 2009 45.1 percent of Brawn, the world champion team of 2009, then purchased and held together with Aabar most capital of 75.1 percent.
Daimler Chrysler has increased its stake from the current 45.1 percent to 60 percent, while Aabar has increased its stake to 40 percent. Transaction is subject to approval by the Federal Cartel Office. Daimler was the November 16, 2009 45.1 percent of Brawn, the world champion team of 2009, then purchased and held together with Aabar most capital of 75.1 percent.
With the acquisition of majority shareholding by Daimler AG, the company is a clear signal about the long-term intentions of its premium brand in Formula 1 "Our majority stake shows our determination to provide Formula 1 long-term commitment on an even more successful," explains Dr. Dieter Zetsche, Chairman of the Board of Management of Daimler AG and Head of Mercedes-Benz Cars. "our founders 125 years ago the Auto invented the first Mercedes was a race car. We see our Formula 1 program is therefore also an important part of the history of our brand. With the acquisition of majority interest we share with our Silver Arrows team also sends a clear signal that the great sporting and technical challenge to master on the main stage of motor racing - and at reasonable prices. "
Khadem Al Qubaisi, Chairman of Aabar Investments PJS said: "The joint venture of Daimler and Mercedes-Benz Grand Prix Aabar is further evidence of our strong commitment to Formula 1 and sports Aabar strategic partnership with Daimler. As Abu Dhabi positioning is increasingly recognized as a series of international sporting events, especially in light of the continued success of the Abu Dhabi Grand Prix, Aabar proud to support one of the most successful Formula 1 teams in the field. Aabar's wishes Mercedes Grand Prix to a successful start of the 2011 season. "
Dr. Thomas Weber, Daimler member responsible for Group Research and Mercedes-Benz for Development and Chairman of Mercedes-Benz Grand Prix Ltd. AG adds: "The acquisition of the remaining 24.9 percent, with Aabar with our partners underscores our long-term commitment to Formula 1 the pinnacle of motor sport and the best international platform to demonstrate our will and our competitive expertise. This bill will bring together colleagues from our chassis and engine MGP HPE more closely, thus helping our team to gradually develop an effective formula for a winning team. now meet the request of Ross to focus entirely on the complex technical challenges in Formula 1 and its role as our team leader. "
Ross Brawn, Team Principal Mercedes-Benz Grand Prix of the States: "The acquisition of a share of 24.9 per cent of Mercedes Grand Prix by Daimler and Aabar is a further step to consolidate and strengthen our team for the future. Motor sport, particularly Formula 1 is a highly specialized industry, and we are privileged to become a partner as strong and understanding as Daimler and Aabar will have to help us achieve our common goals. The management and follow our team and our employees a long-term commitment. We all look forward to the challenge of making our team successful, and proudly represent Mercedes-Benz and the sporting tradition of the Silver Arrow. "
Norbert Haug, Mercedes-Benz Motor sport, said: "The decision to acquire the remaining 24.9 percent of Mercedes Grand Prix is Aabar along with our logical partner. Daimler and Aabar are common, 60/40, sole owner of our company and teams Formula 1 Silver Arrow factory. This creates the basis for the long term, successful participation in the premier class of motor sport. "
Source: Daimler
Dr. Thomas Weber, Daimler member responsible for Group Research and Mercedes-Benz for Development and Chairman of Mercedes-Benz Grand Prix Ltd. AG adds: "The acquisition of the remaining 24.9 percent, with Aabar with our partners underscores our long-term commitment to Formula 1 the pinnacle of motor sport and the best international platform to demonstrate our will and our competitive expertise. This bill will bring together colleagues from our chassis and engine MGP HPE more closely, thus helping our team to gradually develop an effective formula for a winning team. now meet the request of Ross to focus entirely on the complex technical challenges in Formula 1 and its role as our team leader. "
Ross Brawn, Team Principal Mercedes-Benz Grand Prix of the States: "The acquisition of a share of 24.9 per cent of Mercedes Grand Prix by Daimler and Aabar is a further step to consolidate and strengthen our team for the future. Motor sport, particularly Formula 1 is a highly specialized industry, and we are privileged to become a partner as strong and understanding as Daimler and Aabar will have to help us achieve our common goals. The management and follow our team and our employees a long-term commitment. We all look forward to the challenge of making our team successful, and proudly represent Mercedes-Benz and the sporting tradition of the Silver Arrow. "
Norbert Haug, Mercedes-Benz Motor sport, said: "The decision to acquire the remaining 24.9 percent of Mercedes Grand Prix is Aabar along with our logical partner. Daimler and Aabar are common, 60/40, sole owner of our company and teams Formula 1 Silver Arrow factory. This creates the basis for the long term, successful participation in the premier class of motor sport. "
Source: Daimler
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