Lotus F1 takeover by Renault is the cheapest deal evâh

Posted on 27-12-2015 at 20:01 by RubenPriest – 6 Comments”

That Renault F1 team Lotus bought the property has is already known. But for how much?

The acquisition is close to Christmas officially completed and the figures are known. Renault had a grand total of one British pound down for the team. After payment of the old debt by an investor, and the establishment of a new financing plan, there was finally the signature. The deal was with the symbolic amount of one pound paid.

Genii Capital and Gravity Motorsports will remain for the 10% owner of the new team. The acquisition was a complex deal. Genii had 6.744,444 shares overkopen of Whiterock Alliance Ltd, in addition to the already 60.700,000 existing shares that organization is already in the possession. Then, 90% of these shares were sold to Grigny Ltd. A company that in the past was in the possession of shares of the F1 team. This leaves 10% for Genii and Gravity. Grigny is a subsidiary of Renault. The company that operates under the branch of Renault Developpement Industriel Ett Commercial Company.

Details about the team, the car and all randzaken around the F1 track soon. The expectation is that Renault at the end of January/beginning of February with a press conference will come, regarding the participation in the king’s class in the autoracerij. (via worldcarfans.com)