Mercedes’ racing chief Toto Wolff has continued to increase his focus on the carmaker’s Formula 1 activities, by selling a significant stake in the HWA group.

HWA AG is the Mercedes-linked company involved in building the carmaker’s cars in the German DTM touring car series, in which Wolff acquired a 49 per cent stake in 1999. The Austrian has subsequently sold a 12 per cent shareholding back to HWA founder and chairman, Hans Werner Aufrecht.

“The transaction took place in the context of the reorganisation of the investment portfolio of Mr Wolff,” a company statement reads.

Since taking over as the head of the German carmaker’s Formula 1 team from Ross Brawn, the 43-year-old has steadily diluted his shareholding in the rival F1 team, Williams.

Image via Mercedes AMG F1 Petronas Team

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