As Everyone Else Flees Formula 1, Mercedes-Benz Maintains Presence

Agent009 submitted on 11/16/2009 Auto Spies Photos Timestamp: 3:00:16 PM

Views : 6,672 | Category: Misc News | Source: | SOURCE: en.f1-live.com

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Confirming rumours that had been in the air for several weeks, Mercedes-Benz parent company Daimler AG announced on Monday that together with Aabar Investments, it will be taking over a 75.1% joint stake in this year's championship-winning team, Brawn GP. The transaction is pending the approval of the relevant European authorities.

Daimler CEO Dieter Zetsche and Mercedes-Benz Motorsport boss Norbert Haug also confirmed that starting next season, the team will be renamed Mercedes Grand Prix.

The "new terms and conditions for Formula 1," motivated the German carmaker's decision to invest in and run its own team.

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