LONDON: Mercedes AMG Petronas Motorsport Formula One Team and is Team Principal and CEO Toto Wolff has purchased shares in Aston Martin Lagonda, the iconic British automotive brand which will return to the Formula 1 grid next year with the rebranded Racing Point team.
Wolff has been at the helm as Mercedes have dominated F1 in the turbo hybrid era by sweeping the board with six successive drivers’ and constructors’ championship doubles.
On Friday, it was revealed in regulatory documents released by Aston Martin Lagonda that Wolff had purchased a 4.77% stake in Aston Martin.
That was diluted to 0.95% on Monday following a rights issue by the manufacturer to raise capital in a bid to turn the company’s fortunes around.
It therefore means Wolff becomes a private investor in Aston Martin, joining Mercedes parent company Daimler which has been a long term shareholder in the brand.
A Mercedes spokesperson said: "Fully diluted following the pending rights issue on Monday, this investment will represent a 0.95% stake in the company.
“It is a financial investment and Toto's partnership and executive role with Mercedes are unaffected by the transaction."
As of next year, when Aston Martin enter as a works team, Wolff will be privately invested in two Formula 1 teams. The Austrian investor and former racing driver holds a 30% share in the Mercedes F1 Team.
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