News Details

Lloyds sell Marussia stake

Lloyds Banking Group has sold its 25.3 per cent stake in the Marussia Formula One team. The decision to sell comes after Formula One not only failed to perform on the track but also made huge financial losses. According to the Daily Telegraph, the backmarker outfit, who has yet to get off the mark in F1, made a "net loss of £46.3m on revenue which dropped 5pc to £28.6m" in the year ending December 31 2011. As such Lloyds Development Capital (LDC), the private equity division of the bank, sold their shares in the team. A spokesman told the British newspaper: "LDC has sold its minority shareholding in the Marussia F1 team to Marussia. "While the details will...
Full Story »
12y ago from PlanetF1.com 0
Share

You May Also Be Interested In...

Lloyds sells stake in Marussia

Lloyds Development Capital (LDC) has sold its 25.3% stake in Marussia...
12y ago from espnF1.com

British bank sells Marussia team shares

22 April, 2013 Lloyds, the quasi-government owned British bank, has sold...
12y ago from YallaF1.com

Marussia shares sold following hefty loss

Lloyds Banking Group has sold its shares in Marussia F1 Team, amounting...
12y ago from RichlandF1.com

Elsewhere On The Network

Popular On MGPToday.com

Marc Marquez tops final practice at rain-affected...

Marc Marquez showcased his dominance around the Sachsenring as he topped...
30m ago from MotorsportWeek.c...

Popular On IndyCarToday.com

Severe weather disrupts IndyCar practice from Iowa

A round of severe weather has delayed the first practice session for the...
12h ago from MotorsportWeek.c...

Will Power’s contract decision on hold due to Team...

Will Power’s contract with Team Penske is up at the end of this season,...
16h ago from MotorsportWeek.c...

Popular On TotalWRC.com

Popular On GunnersToday.com

Barcelona set 50 million price tag as Manchester...

Barcelona have reportedly set a 50 million price tag for midfielder Marc...
30m ago from SportsKeeda.com

Sources: Arsenal & Chelsea have enquired about...

Arsenal and Chelsea have both enquired about the possible signing of...
2h ago from CaughtOffside.com

Saturday updates: Madueke medical, Big Vik goes on...

Good morning from a sweltering Dublin. It got to 29C yesterday, which is...
1h ago from Arseblog.com

Taking flight: how Premier League clubs are racking up...

20 teams are jetting around between league seasons, including for...
2h ago from TheGuardian.com

Comments

Hottest News

Recent News


2014 GPToday.com
GPToday.com is not responsible for the news headlines and associated descriptions and images it indexes, the content of externally linked sites or the comments & postings of its users.

This website is unofficial and is not associated in any way with the Formula One group of companies. F1, FORMULA ONE, FORMULA 1, FIA FORMULA ONE WORLD CHAMPIONSHIP, GRAND PRIX and related marks are trade marks of Formula One Licensing B.V.