Mercedes Formula One boss Toto Wolff has grabbed a stake in British sportscar maker Aston Martin, whose executive chairman Lawrence Stroll operates the Racing Point F1 team, the company filings showed.
A Mercedes F1 spokesman stated Wolff’s move was purely an investment on the Austrian’s part and would be diluted by a rights issue on Monday from 4.77% to less than 1 percent.
“Fully diluted after the pending rights issue, this investment will represent a 0.95% stake in the company,” he said.
“It is a financial investment and Toto’s partnership and executive role with Mercedes are unaffected by the transaction,” he added.
Swiss billionaire Ernesto Bertarelli has also purchased a 3.38% stake which will be diluted as well.
Wolff earlier had a 16% shareholding in former champions Williams but sold that following his participation in the Mercedes team, where he serves as principal and owns 30%.
Canadian billionaire Stroll, whose son Lance drives for Racing Point together with Mexican Sergio Perez, is close to Wolff. The Silverstone-based team — to be renamed Aston Martin in 2021 — use Mercedes engines and gearboxes.
Mercedes-Benz’s parent Daimler owns a small stake in Aston Martin.
“It’s clear that Aston are now Mercedes’ B team,” the Daily Mail quoted one Formula One insider as telling.
