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Daimler, Abu Dhabi to buy Formula 1 team Brawn GP
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DUBAI, United Arab Emirates - The Abu Dhabi investment fund with the biggest stake in automaker Daimler says it is teaming with the Mercedes-Benz maker to buy a controlling stake in Formula 1 champions Brawn GP.
Aabar Investments says the new "Mercedes Grand Prix" racing team will compete in next year's Formula 1 season under the existing leadership of Ross Brawn.
Mercedes maker Daimler will own 45.1 percent of the team, while Abu Dhabi government-run Aabar will have a 30 percent share. The remaining quarter will stay with the existing owners.
Aabar says the deal is subject to approval by Swiss and European Union regulators.
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