News Details
Renault paid £1 to buy Lotus
Company accounts have revealed that Renault paid just £1 to take over the Lotus Formula One team in December. The French manufacturer purchased a 90 percent stake in the team, with previous majority shareholders Genii Capital/Gravity Motorsports retaining a combined total of 10 percent. In order to sell the 90 percent stake, Genii first had to purchase 6,744,444 shares from Whiterock Alliance Ltd to take full ownership of the team. Renault then purchased 90 percent of the company through Grigny Ltd, a wholly-owned subsidiary firm, with the token £1 payment and by writing off £98.2 million in debt which Lotus had accrued through shareholder loans. Grigny was formed in 1977...
Full Story »
Full Story »
8y ago from PlanetF1.com
0
You May Also Be Interested In...
Renault complete purchase of Lotus
Renault have completed their takeover of the Lotus Formula One team and...
8y ago from SuperSport.com
Renault finalises takeover of Lotus
Lotus F1 Team Renault has finalised its purchase of the Lotus Formula 1...
8y ago from F1Zone.net
It's official, Renault have the ‘keys' to Lotus...
F1 News It's official, Renault have the ‘keys' to Lotus of Enstone...
8y ago from Formula1Blog.com
Renault takeover of Lotus F1 team now a done deal
Renault have completed their takeover of the Lotus Formula One team and...
8y ago from GrandPrix247.com
Elsewhere On The Network
Popular On MGPToday.com
Toprak Razgatlioglu's manager: ‘2026 MotoGP is...
Toprak Razgatlioglu's manager Kenan Sofuoglu has revealed the Turkish...
9h ago from MotorsportWeek.c...
Bagnaia favours Bulega over Iannone for MotoGP debut...
No description available...
10h ago from Motorsport.com
Honda set to announce Castrol MotoGP partnership from...
The Honda MotoGP factory works team has reportedly agreed on a new...
11h ago from MotorsportWeek.c...
2024 MotoGP Thailand Grand Prix – How to watch,...
No description available...
10h ago from Motorsport.com
Popular On IndyCarToday.com
Pushing for innovation: IndyCar's need for an...
No description available...
4h ago from Motorsport.com
Graham Rahal hoping better luck helps him rebound in...
Graham Rahal believes a continued streak of bad luck has played a major...
2d ago from MotorsportWeek.c...
Malukas reflects on turbulent 2024 IndyCar season that...
No description available...
2d ago from Motorsport.com
Former Red Bull Junior Hauger joins Andretti’s Indy...
No description available...
6d ago from Motorsport.com
Popular On TotalWRC.com
Solberg sheds light on 2025 WRC Rally1/Rally2 conundrum
No description available...
10h ago from Motorsport.com
Kuldar Sikk recovering from broken spine at Central...
Kuldar Sikk broke his spine and underwent emergency surgery after an...
2d ago from TheCheckeredFlag...
Hyundai yet to make 2025 WRC third driver call as...
No description available...
1d ago from Motorsport.com
Dakar winners Price, Sunderland switch to four wheels...
No description available...
2d ago from Motorsport.com
Popular On GunnersToday.com
'Above Robben, Duff, Cristiano Ronaldo, above...
No description available...
33m ago from SportsKeeda.com
Blow for Liverpool: Latest report confirms star player...
Liverpool will head into their crucial Premier League encounter against...
1h ago from CaughtOffside.com
'Going to try to win the PL again? Forget about it' -...
No description available...
4h ago from SportsKeeda.com
“Sometimes his mistakes are really bad' - Arsenal...
No description available...
4h ago from SportsKeeda.com
Comments
Hottest News
Colapinto explains Brundle grid walk snub in Austin
Williams rookie Franco Colapinto has explained... Read More »
2h ago from F1i.com
Piastri dismisses Marko-led speculation about a Red Bull...
Oscar Piastri says a move to Red Bull is not on... Read More »
52m ago from Racer.com
Lewis Hamilton: ‘Grey area' F1 rules have favoured...
Mercedes' Lewis Hamilton implied that "grey... Read More »
33m ago from MotorsportWeek.com
