Aabar reportedly buys share in Toro Rosso
23 November, 2012
Nov.23 (GMM) The recent decision by Aabar to end its longstanding relationship with Mercedes may have been made by the Abu Dhabi state investment arm as a pre-cursor to a moves to buy into the Toro Rosso team.
It emerged this week that Aabar had sold back to Daimler Benz its 40 per cent stake in the German car giant’s AMG Mercedes Formula One works team.
But Aabar continues to back Toro Rosso, Red Bull’s second F1 team, through its Spanish oil brand CEPSA.
Falcon Private Bank which is owned by Aabar, has been a sponsor of the team for the past two seasons.
And Germany’s Sport Auto reports that Aabar has now bought part of the Faenza based squad.
“The (percentage of the stake) is between 49 to 61 per cent,” the magazine said.
Toro Rosso is yet to comment.
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