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