Mercedes cancels Alpine partnership
Mercedes-Benz and its AMG team have withdrawn from negotiations to acquire a 25% stake in the Alpine team due to financial terms. They had intended to purchase a 24% share for approximately 618 million euros, while valuing the entire team between $2.15 billion and $2.42 billion. A disagreement over the price with Otero Capital, the remaining owner of the stake, led Mercedes to pull out of the deal after the latter demanded a higher price than the market value. Negotiations had been ongoing for months between Mercedes and Toto Wolff, the manager of their Formula 1 team, regarding buying the stake in Alpine.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)