Mercedes to take over Brawn F1 team
Germany-based car manufacturer Mercedes-Benz is set to enter the Formula One World Championship in 2010 after acquiring a 75.1 per cent stake in the Brawn GP team.
The manufacturer's parent company, Daimler AG, has teamed up with Middle East-based Aabar Investments PJSC to secure the majority stake in the team, while the existing stakeholders will retain 24.9 per cent of the team. Despite the deal, the rival McLaren team will retain the Mercedes suffix as the result of a continuing partnership lasting until 2015. However, McLaren Group will acquire Daimler AG's 40 per cent stake in the team by 2011.
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