Mercedes motorsport boss Toto Wolff has sold a further stake in his shareholding of Williams F1 team to American healthcare executive Brad Hollinger.
Hollinger, owner of the Vibra Healthcare group, had already purchased a five percent stake from Wolff in June last year, with the ability to exercise an option to purchase a further allotment of the Grove-based squad, which publicly floated a 28% shareholding on the Frankfurt Stock Exchange in 2011.
Team founder Frank Williams remains the majority stake holder with 52% ownership, while co-founder Patrick Head is now level with Hollinger on 10% apiece.
Wolff, a former executive director at Williams, said he intends to keep the remaining 5% shareholding, which is assumed to be with the blessing of Mercedes’ parent company, Daimler, which had instructed him to start selling his original 15% stake to avoid ongoing perceptions that the Austrian had a ‘conflict of interest’ in being a shareholder of a Mercedes customer team.
Wolff also owns a 30% stake in the works Mercedes F1 team, where he is the marque’s motorsport boss.
Image via XPB Images
Latest posts by Geoff Burke (see all)
- Formula 2: DAMS retains Latifi for 2019 - 11 December, 2018
- Formula 2: Trident signs Giuliano Alesi - 8 December, 2018
- Formula 2: Ghiotto completes UNI-Virtuosi line-up - 7 December, 2018
- Formula 2: Russian team calls time - 5 December, 2018
- Formula 2: ART and PREMA line-ups complete - 29 November, 2018