1 Mar 2011

Mercedes now owns its F1 team

6:59 am on 1 March 2011

Mercedes GP Formula 1 team is now fully owned by the car manufacturer after its parent company bought remaining shares from former Brawn GP team management.

Daimler and Aabar acquired the final 24.9% from Ross Brawn and his management partners, whose F1 team was taken over by Mercedes in 2009.

Brawn is now the Mercedes GP team principal.

The new shareholding structure means Daimler AG owns 60%, with Aabar taking control of the remaining 40%.