Caterham F1: Engavest claims to have bought Fernandes’ shares
After an initial statement on Wednesday evening, followed by a response from Tony Fernandes, Engavest—the company behind the acquisition of Caterham—maintains its version and asserts that it has fulfilled its obligations.
The situation surrounding Caterham continues to make headlines for several days. Last night, a statement published by Engavest, the holding company that bought the team, implicated Tony Fernandes. He allegedly has not sold his shares in the company.
On Twitter, in the hours following this statement, the individual had instead suggested that the difficulties were not on his side but on that of the buyers: « When you buy something, you have to pay for it. Pretty simple. »
This Thursday, it’s Engavest’s turn to respond, asserting that commitments have been fulfilled and that the responsibility of the team was still in the hands of Fernandes: « On June 29th /f1/actualite/18866-caterham-f1-les-nouveaux-proprietaires-menacent-de-se-retirer.html, Engavest signed a business sale agreement with Tony Fernandes and the Caterham Group to acquire the shares of 1Malaysia Racing Team / Caterham F1. » 1Malaysia Racing Team (1MRT) is the entity registered in the F1 World Championship that fields the Caterham team.
« Engavest SA has fulfilled all the preconditions, including the payment of the purchase price for the shares. The shares have not been transferred and therefore Mr. Fernandes remains the owner of Caterham F1 and is fully responsible for all its activities, » concludes the statement.
