LONDON: The Mercedes-AMG Petronas Formula One Team announced Friday that INEOS will become a one third shareholder in the team, which will be owned in three equal parts by Daimler AG, INEOS and Mercedes F1 team principal and CEO Toto Wolff.
The INEOS one-third stake in the team will be in addition to its existing role as Principal Partner. In parallel, Daimler will reduce its current 60% shareholding and Toto Wolff increase his current 30%, in order to create three equal partners in the company.