Aabar exits the capital of Mercedes GP AMG
The takeover of Daimler over the team bearing its name is now complete as the German group has just acquired the 40% stake held by Abu Dhabi's sovereign fund, Aabar.
The two companies became 100% shareholders of the team in February 2011, after the management, including Ross Brawn and Nick Fry, sold their remaining shares in the 2009 world champion team.
However, the ties between Daimler, the parent company of Mercedes, and Aabar remain very strong since Aabar is still a major shareholder of the German manufacturer.
In March 2009, Aabar took advantage of the fall in the German company’s stock price to acquire 9.04% on the markets. Nevertheless, he announced on October 11 that he had fallen below 5% of the voting rights following an increase in the number of Daimler shares, related to the exercise of stock options. However, he specified that he remained committed to the future of Daimler and maintained his confidence in the management of the star group.
Mercedes now has all the cards in hand to prepare for the future. 2013 will be a crucial year for the team as it welcomes the 2008 champion, Lewis Hamilton, in place of Michael Schumacher. He will therefore have a year to acclimate to his new team before the crucial engine regulation change at the start of the 2014 season.
With the participation of www.Racingbusiness.fr
