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INEOS takes one-third stake in Mercedes F1 team
Mercedes has announced that INEOS will become a one third shareholder in the team, which will be owned in three equal parts by Daimler AG, INEOS and Toto Wolff. The INEOS one-third stake in the team will be in addition to its existing role as principal partner. In parallel, Daimler will reduce its current 60% shareholding and Toto Wolff increase his current 30%, in order to create three equal partners in the company. Since the Mercedes-Benz works team returned to F1 in 2010, continuous strategic investment, sporting commitment and commercial growth have built the organisation into a leader in world sport with an unprecedented seven consecutive double world championships since 2014.+...
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4y ago from Pitpass.com
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