Originally Posted by Bradley Hope

ABU DHABI // Two major investors including Abu Dhabi’s Aabar Investments have bought a majority stake in the championship winning Brawn GP Formula One team, to be renamed Mercedes Grand Prix.

Aabar, one of the most active international investors in the Gulf, has combined with the German car maker Daimler to acquire a 75 per cent stake in Brawn GP, the winner of this year’s constructors and drivers championships, the companies said today. They declined to provide a purchase price.

“Aabar is delighted to join forces with Daimler and its world leading brand Mercedes-Benz in order to create a new Formula One team, which follows in the footsteps of the long-standing and successful tradition of the famous ‘Silver Arrows’,” said Khadem al Qubaisi, the chairman of Aabar. The Silver Arrows was the unofficial name of the champion Mercedes-Benz team between 1934 and 1939. Their cars were also known by that name during the 1950s.

Aabar will take a 30 per cent stake in Brawn GP and Daimler will acquire 45.1 per cent, with 24.9 per cent remaining with the current owners, the companies said in a joint statement today. Aabar owns 9.1 per cent of Daimler, making it the largest shareholder in the company.

The new team will continue to be led by Ross Brawn, an owner of the team and a veteran race car engineer. The engine teams will be co-ordinated by Mercedes-Benz Motorsport. Daimler already owns 40 per cent of the McLaren team through its Mercedes unit.

The acquisition comes just two weeks after Abu Dhabi hosted its first Formula One race at a new, state of the art circuit on Yas Island, which has boosted the emirate’s profile in the world of motorsport.

Mubadala Development, which owns 5 per cent of the Italian car maker Ferrari, and Etihad Airways are already major sponsors of the Scuderia Ferrari F1 team. Mubadala, a government-controlled investment company, financed the construction of the circuit on Yas Island and Aldar Properties, Abu Dhabi’s largest property developer, is building the massive Ferrari World theme park next door.

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