Mercedes-AMG at the 2012 Formula 1 Belgian Grand PrixEnlarge Photo
Daimler now has 100 percent of the shares in the Mercedes-AMG Formula One Team, following the decision by Abu Dhabi-based investment fund Aabar to sell its 40 percent stake in the team.
Daimler joined with Aabar to purchase a controlling stake in the team in 2009, the same year in which it won both the Drivers’ and Constructors’ championships as Brawn GP.
This was mostly due to the efforts of its top driver at the time, Jenson Button.
It’s not clear why Aabar decided to sell its stake, though the company also offloaded its holding in Daimler recently, a 3.07 percent share of the German auto giant. It's also not clear how much Aabar received for its 40 percent stake in the Mercedes-AMG F1 Team, which is based in Brackley, in the UK.
While the Mercedes-AMG F1 Team, whose current driver lineup includes seven-time world champion Michael Schumacher and Nico Rosberg, has failed to even come close to the performance of when the team was known as Brawn GP, next year should be exciting with McLaren driver Lewis Hamilton set to join the ranks
Hamilton will be replacing Schumacher, who is retiring from the sport for the second time.