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Sauber Group confirm change of ownership
The Sauber F1 Team have today announced that they have completed a deal with current shareholders that will see a change of ownership at group level. Longbow Finance S.A have acquired Sauber Holding A.G, the overall umbrella company to which Sauber Group belongs, with immediate effect, in a bid to secure the future of Sauber who have been suffering with financial difficulties that had started to reach critical levels in 2016. There will be no change of name to either the holding company or the Formula One team, but the arrangement will hopefully allow the Sauber F1 Team more opportunities to progress forward this season, after badly struggling with performance during the first half of...
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9y ago from TheCheckeredFlag.co.uk
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