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Lloyds sells stake in Marussia
Lloyds Development Capital (LDC) has sold its 25.3% stake in Marussia after the team made large losses. A Formula Money report in The Daily Telegraph states that LDC - the private equity division of Lloyds Banking Group - has sold its shareholding to majority shareholder Marussia Motors. The sale leaves Marussia's current and former team management with a 7.3% stake. A Lloyds spokesman confirmed that the team will retain a loan from LDC. "LDC has sold its minority shareholding in the Marussia F1 team to Marussia," the spokesman said. "While the details will remain undisclosed, the terms of the transaction will enable LDC to recoup the full value of its investment in the...
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11y ago from espnF1.com
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