Mercedes pull out of talks over Alpine buy-in
Mercedes has withdrawn from negotiations to acquire a minority stake in the Alpine Formula 1 team, citing concerns over the asking price. The investment group Otro Capital was seeking $720 million for its 24% share, which Mercedes deemed excessive. As a result, discussions have ceased, and Renault, the team’s owner, is not pursuing further talks with other interested parties.
- ▪Mercedes pulled out of talks to buy a minority shareholding in the Alpine team due to perceived overpricing.
- ▪Otro Capital was demanding $720 million for its 24% stake, valuing Alpine at $3 billion.
- ▪Mercedes considers a fair valuation for Alpine to be between $2.2 billion and $2.4 billion based on revenue multiples.
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