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 »
9y 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...
9y ago from SuperSport.com
Renault finalises takeover of Lotus
Lotus F1 Team Renault has finalised its purchase of the Lotus Formula 1...
9y 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...
9y 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...
9y ago from GrandPrix247.com
Elsewhere On The Network
Popular On MGPToday.com
MotoGP confirms date of Balaton Park homologation...
MotoGP has confirmed that the homologation approval for the Balaton Park...
18h ago from MotorsportWeek.c...
What Trackhouse saw in Ogura that made him a surprise...
No description available...
2d ago from Motorsport.com
KTM compares Pedro Acosta's MotoGP approach to...
KTM Motorsport Director Pit Beirer compared Pedro Acosta's approach to...
2d ago from MotorsportWeek.c...
Three Ducati riders rode with ‘updated’ 2025...
A spokesperson for Ducati has revealed three of its riders raced at the...
4d ago from MotorsportWeek.c...
Popular On IndyCarToday.com
Bumping confirmed for Indy 500 as Takuma Sato becomes...
No description available...
1d ago from Motorsport.com
How VeeKay went from an unexpected ECR exit to...
No description available...
1d ago from Motorsport.com
Takuma Sato to contest 16th Indy 500 with RLL
Rahal Letterman Lanigan Racing has announced that Takuma Sato will...
1d ago from MotorsportWeek.c...
FOX working to bring Kentucky Derby-style betting to...
This past weekend FOX produced its first IndyCar broadcast of a new...
5d ago from MotorsportWeek.c...
Popular On TotalWRC.com
FIA steps in after WRC fuel supplier goes into...
No description available...
2d ago from Motorsport.com
Meet Claire Schonborn, the engineer turned WRC...
No description available...
4d ago from Motorsport.com
Popular On GunnersToday.com
Arsenal 2-2 PSV: Job done, now Real Madrid await
Match report – Player ratings – Arteta reaction – Video...
34m ago from Arseblog.com
“Behave yourself” - James Maddison sends message...
No description available...
14m ago from SportsKeeda.com
Arsenal 2-2 PSV (9-3 agg.): Gunners' Player Ratings as...
No description available...
1h ago from SportsKeeda.com
“So Liverpool for me just ticks all the boxes for...
No description available...
3h ago from SportsKeeda.com
Comments
Hottest News
Madrid Grand Prix announces name for its brand-new circuit
With the Spanish Grand Prix set to move to Madrid... Read More »
54m ago from F1Technical.net
Wolff rules out 'flirting' with Verstappen to focus on...
Toto Wolff has put an end to the speculation... Read More »
44m ago from GPBlog.com
Verstappen to Mercedes 'not on any radar' – Wolff
Mercedes F1 boss Toto Wolff says a pitch to sign... Read More »
54m ago from BBC.co.uk
