Aabar and Daimler to acquire majority stake in Brawn GP

Aabar together with Daimler AG will acquire 75.1% of the Brawn GP team. This shareholding will be split on a 60/40 Daimler/Aabar ownership basis (Daimler holding 45.1%, Aabar holding 30%) with the balancing 24.9% stake remaining with the current owners. The transaction is subject to regulatory approvals in Switzerland and the EU.

With a 9.1% shareholding, Aabar is the biggest single shareholder of Daimler AG and together they recently completed a joint investment in electric car manufacturer Tesla. This year saw the inaugural Grand Prix in Abu Dhabi as the Yas Marina Circuit welcomed Formula 1 to the UAE. From Aabar's perspective, Mercedes stands at the pinnacle of automotive achievement, just as Formula One represents the very highest level of motor sport.

The management team of the former Brawn GP team will continue to work under the leadership of Ross Brawn, with both the Formula 1 and the High Performance Engines teams coordinated by Mercedes-Benz Motorsport, headed by Vice-President Norbert Haug. The team will benefit from synergies between the 100% Daimler-owned subsidiary Mercedes-Benz High Performance Engines in Brixworth, UK, and the Mercedes Grand Prix team based in Brackley, UK.

"Aabar is delighted to join forces with Daimler AG and its world leading brand Mercedes-Benz in order to create a new Formula One Team which follows in the footsteps of the longstanding and successful tradition of the famous 'Silver Arrows',"

said His Excellency Khadem Al Qubaisi, Chairman, Aabar Investment PJSC.

"Ever since Aabar became the largest shareholder in Daimler AG, the cooperation between our two organisations has been exemplary, and we have already co-invested in Tesla. Aabar is confident that further success in this arena will follow," he added.

"Bearing in mind the outstanding recent success of the Abu Dhabi Grand Prix, which brought Formula One to the United Arab Emirates for the first time, it is especially exciting to realise that next year, our own cars will be in the field, with the genius of Ross Brawn still deeply involved with the team, now backed by the unrivalled excellence of Mercedes-Benz across the entire spectrum of automotive technology. It is a fantastic prospect, which makes me both pleased and proud for my country," he added.

"Brawn GP has been through an incredible journey over the last 12 months. From fighting for our survival to forging a strong relationship with Mercedes-Benz High Performance Engines, winning both the Constructors' and Drivers' World Championships, and now accepting Aabar and Daimler's offer to buy our team which will secure its future," said Team Principal Ross Brawn.

"Both I and my fellow Directors at Brawn GP are incredibly proud of our staff, drivers and everyone associated with our team and thank them for their commitment, outstanding teamwork and their focus on achieving results in sometimes difficult circumstances. The senior management group will remain in place to lead our team and on behalf of everyone at Brawn GP, we are honoured to be representing such a prestigious brand as Mercedes-Benz in Formula One next year and will be working together to do our best to reward their faith in our team," Brawn added.

"Mercedes-Benz is the most valued and best known premium automotive brand in the world. This brand looks for competition of the highest quality in all relevant fields in order to improve continually by the new challenges caused by this," said Dr. Dieter Zetsche, CEO of Daimler AG and Head of Mercedes-Benz Cars.

"In the changed environment of Formula 1 we will face the competition on the most important motor sports stage from now on with our own Silver Arrow works team. Our new Silver Arrow Formula 1 team is a great sporting and technical challenge and we will tackle this with sporting spirit and full of enthusiasm," he added.