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Tuesday November 17, 2009

Mercedes taking over champs Brawn

FRANKFURT: Mercedes-Benz is taking over Formula One champions Brawn GP and plans to end their shareholding in McLaren.

Mercedes-Benz chairman Dieter Zetsche, speaking in a telephone conference yesterday, said Brawn would race in 2010 as the Mercedes GP team. The German car maker had previously supplied Brawn with engines and will continue to supply both Ross Brawn’s team and McLaren.

In terms of shareholding, Mercedes and Aabar Investments PJSC will get 75.1% of Brawn GP. Aabar is the biggest single shareholder of Daimler AG, Mercedes-Benz’s parent company.

McLaren said in a statement it would continue to use Mercedes engines until 2015 and that the team would continue to be known as McLaren Mercedes.

However, the British-based team also announced it would be buying out the stake in the team owned by Mercedes-Benz’s parent company, Daimler AG.

Brawn GP, who took over from Honda when they pulled out from the sport in March, had a spectacular first year season – with Jenson Button winning the 2009 drivers’ title and the team taking the constructors’ championship. — AP

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