News Details
Renault paid £1 to buy Lotus
Company accounts have revealed that Renault paid just £1 to take over the Lotus Formula One team in December. The French manufacturer purchased a 90 percent stake in the team, with previous majority shareholders Genii Capital/Gravity Motorsports retaining a combined total of 10 percent. In order to sell the 90 percent stake, Genii first had to purchase 6,744,444 shares from Whiterock Alliance Ltd to take full ownership of the team. Renault then purchased 90 percent of the company through Grigny Ltd, a wholly-owned subsidiary firm, with the token £1 payment and by writing off £98.2 million in debt which Lotus had accrued through shareholder loans. Grigny was formed in 1977...
Full Story »
Full Story »
10y ago from PlanetF1.com
0
You May Also Be Interested In...
Renault complete purchase of Lotus
Renault have completed their takeover of the Lotus Formula One team and...
10y ago from SuperSport.com
Renault finalises takeover of Lotus
Lotus F1 Team Renault has finalised its purchase of the Lotus Formula 1...
10y ago from F1Zone.net
It's official, Renault have the ‘keys' to Lotus...
F1 News It's official, Renault have the ‘keys' to Lotus of Enstone...
10y ago from Formula1Blog.com
Renault takeover of Lotus F1 team now a done deal
Renault have completed their takeover of the Lotus Formula One team and...
10y ago from GrandPrix247.com
Elsewhere On The Network
Popular On MGPToday.com
Exclusive: Ai Ogura in, Alex Rins out at Yamaha for...
No description available...
7h ago from Motorsport.com
Trackhouse team owner Justin Marks: MotoGP must take...
No description available...
1d ago from Motorsport.com
Guenther Steiner: MotoGP riders ‘need to be of a...
Tech3 KTM CEO Guenther Steiner has continued to share his admiration for...
1d ago from MotorsportWeek.c...
KTM backs “unlucky” Maverick Vinales to return and...
No description available...
1d ago from Motorsport.com
Popular On IndyCarToday.com
Andretti confirmed to field just three cars for Indy...
Andretti Global has confirmed that the team will only run three cars in...
1d ago from MotorsportWeek.c...
AJ Foyt Racing adds Toby Sowery as reserve driver
No description available...
2d ago from Motorsport.com
Toby Sowery joins AJ Foyt Racing in IndyCar reserve...
AJ Foyt Racing has appointed Toby Sowery as the team’s reserve driver...
2d ago from MotorsportWeek.c...
Feature: RLL’s split fortunes in Barber highlight...
At the most recent IndyCar race from Barber Motorsports Park, Graham...
3d ago from MotorsportWeek.c...
Popular On TotalWRC.com
Thierry on top in Croatia
Thierry Neuville and Martijn Wydaeghe are on track to claim Hyundai’s...
52m ago from MotorsportWeek.c...
WRC Croatia: Puncture chaos hands Thierry Neuville...
No description available...
32m ago from Motorsport.com
WRC Croatia: Adrien Fourmaux crashes out as Sami...
No description available...
6h ago from Motorsport.com
Oliver Solberg out of Croatia Rally (for now)
Friday: Oliver Solberg crashed out of Rally Croatia about four km into...
1d ago from MotorsportWeek.c...
Popular On GunnersToday.com
'Big punch in the face' - Mikel Arteta reacts after...
Arsenal coach Mikel Arteta broke his silence after the Gunners' 2-1 loss...
1h ago from SportsKeeda.com
Bournemouth expose Schrödinger’s Arsenal, a team...
el Arteta urged fans to bring ‘your lunch, bring your dinner’ but when...
2h ago from TheGuardian.com
Arsenal suffer huge title blow in home defeat to...
FREE TO WATCH: Highlights from Arsenal's match against Bournemouth in the...
2h ago from SkySports.com
‘A big punch in the face’: Mikel Arteta apologises...
t;li>Arsenal manager says players must show characterIraola hails...
2h ago from TheGuardian.com
Comments
Hottest News
Lance Stroll leaves F1 behind for shot at winning a race
Lance Stroll is waving goodbye to Formula 1 this... Read More »
2h ago from GPFans.com
Christian Horner reveals GP's 'hidden talent' after Red...
Former Red Bull F1 boss Christian Horner has... Read More »
22m ago from GPFans.com
Brundle sparks controversy: ‘F1 drivers fourth in line in...
The fallout from Oliver Bearman’s terrifying... Read More »
2h ago from F1i.com
