Aabar divests Mercedes F1 team stake
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Aabar divests Mercedes F1 team stake

Aabar divests Mercedes F1 team stake

International Petroleum Investment Co (IPIC), the parent of Aabar Investments, has said the Abu Dhabi sovereign-wealth fund has sold its stake in Mercedes-Benz's Formula One racing team to the luxury-car brand's parent Daimler, Times of Oman has reported. Aabar will sell its holding in Mercedes Grand Prix to Daimler UK for an undisclosed sum, IPIC said. Last October, Aabar unloaded its remaining voting stake in Daimler, which it acquired in March 2009 after financial markets collapsed.

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