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Mercedes Walks Away From Alpine Stake Acquisition Due To Valuation Disagreement
Mercedes is no longer in the running to acquire a minority stake in the Alpine Formula 1 team after talks collapsed over price. The German manufacturer had been interested in purchasing Otro Capital's 24% share in the Enstone-based outfit, having already agreed in principle with majority owner Renault to proceed. However, the deal has since fallen apart, with Otro Capital's $720 million asking price understood to be the central sticking point in the negotiations. That valuation places the Alpine team at $3 billion, a figure Mercedes reportedly considers well above what the team is actually worth as a financial investment. Insiders at Alpine have confirmed that the conversations between the...
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5d ago from Formula1News.co.uk
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