Daimler has completed its purchase of the Mercedes Grand Prix team.
It announced today it has acquired the final 24.9% stake in the company held by Ross Brawn’s management team.
Daimler jointly owns the company with Aabar Investment PJS, a global investment company owned by the Abu Dhabi government whose logo appears on the Mercedes F1 cars.
Daimler will own 60% of Mercedes and Aabar the remaining 40%, pending approval of the deal by the German regulatory body.
Brawn described the move as “a further step in the consolidation and strengthening of our team for the future.”
“I remain fully committed to our team for the long-term, along with the management team and all of our employees. We all look forward to the challenge of making our team successful, and proudly representing Mercedes-Benz and the racing tradition of the Silver Arrows.”
Daimler board member Thomas Weber said the move will allow Brawn to focus his time on running the team: “This step will bring the colleagues from our Formula 1 chassis and engine groups even closer together and thereby help to develop our team step-by-step into a winning Formula 1 outfit.
“We now also fulfil Ross’ wish of being in a position to focus wholly on the complex technical challenges of Formula 1 and on his role as our team principal.”
Mercedes took over the running of the Brawn team, formerly Honda, at the end of 2009.
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