Daimler Goes Full Throttle In Deal For Mercedes F1 Team

Law360, New York (November 19, 2012, 6:15 PM EST) -- German automaker Daimler AG bought out its partner in Mercedes-Benz Grand Prix Ltd. to take full control of the Formula One racing team, the seller — state-owned Abu Dhabi private investment firm Aabar Investments PJS — announced Monday.

The carmaker's British arm, Daimler UK Ltd., inked a deal with Aabar to take over the sovereign wealth fund's 40 percent share of the team for an undisclosed sum, according to a brief statement posted to the London Stock Exchange's Regulatory News Service by Aabar's parent, Emirate-owned International...
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