Despite posting a 6% loss in the value of its shares after its maiden listing day on the Frankfurt Stock Exchange, the Williams team can confirm that a significant piece of its shareholding has been bought by a Dutch investment firm with past links to Formula 1.
A company called Cyrte – a subsidiary of the Delta Lloyd Group financial services prodiver – has swallowed up a 5% slice of the 28% shareholding that was publically floated by the Grove outfit.
The company is headed by John de Mol, who was previously a significant shareholder of the Manchester United football team and the Dutch sports car manufacturer, Spyker, which itself ran as an F1 constructor before selling on to Force India.
“We have not entered into contract yet with Cyrte but when I met with them they outlined how they would like to develop the relationship,” Williams chairman Adam Parr is quoted as saying.
“This investment sees Cyrte and Williams create a strategic partnership in which we will assist the team to further develop its potential in all commercial aspects of its business,” added Cyrte CEO Frank Botman.
“It will also afford Cyrte a platform from which to participate in the growth of Formula 1.”