News Details
INEOS takes 33% stake in Mercedes-AMG F1 team
Mercedes principal partner INEOS will become a part owner of the German manufacturer's F1 team, holding an equal number of shares as Daimler AG and team boss Toto Wolff. INEOS joined Mercedes at the start of the year as a major sponsor of the Brackley squad, and last summer rumors emerged about a possible buy-out of the championship winning team by the UK petrochemical giant. Ultimately, INEOS will enjoy a one-third stake in the team while continuing as its principal sponsor. The shareholding structure will see Daimler reduce its current 60% holding while Wolff will increase his current 30% stake, in order to create three equal partners in the company. Furthermore, under the new...
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