Daimler and Aabar become 100% owners of Mercedes GP

This time, Mercedes GP completely deserves its name since Daimler, the parent company of Mercedes-Benz, and the Abu Dhabi investment fund Aabar now own 100% of the Brackley team, with a 60/40 split in favor of the Stuttgart manufacturer.

This ramp-up had been planned since the beginning of February. This is the last phase of internal reorganization within the team crowned world champion in 2009 under the name Brawn GP.

Indeed, this past month also saw the arrival of Bob Bell as the technical director of the team to allow Ross Brawn to fully focus on the coordination work between the Brackley chassis teams and the engine staff based in Brixworth.

Ross Brawn and his former partners have decided to sell their remaining shares after already selling 75.1% in November 2009. The new shareholder structure will remain almost exclusively internal since Aabar is the primary shareholder of Daimler with 9% of the automaker’s capital. This acquisition aims for Mercedes to ensure its long-term presence in Formula 1, as stated by Dieter Zetsche, CEO of Daimler and head of Mercedes-Benz cars: «Owning the majority of the shares demonstrates our determination to build a long-term involvement in Formula 1 on an even better platform. Acquiring the majority of the shares of our Silver Arrows team sends a clear message that we want to achieve technical and sporting success on the world’s largest motorsport stage and do so under acceptable financial conditions.»

As for Aabar, the goal is to strengthen Abu Dhabi’s presence on the world map through globally broadcast sports. Khadem Al Qubaisi, chairman of Aabar, states: “The joint investment of Aabar and Daimler in Mercedes-Benz Grand Prix is a testament to our strong commitment to Formula 1 and Aabar’s strategic relationship with Daimler. Given that Abu Dhabi is continually increasing its reputation by hosting international sports events, especially in light of the ongoing success of the Abu Dhabi Grand Prix, Aabar is proud to support one of the most successful teams in the Formula 1 lineup.”

Daimler has therefore made the opposite choice of its partner Renault by strengthening its team, while the Losange has sold its last shares in the former Renault F1 Team and is reportedly on the verge of abandoning its name in favor of Nissan’s luxury brand, Infiniti, for its engine supply contract with Red Bull.

With the participation of RacingBusiness.fr