NASCAR Cup Series

Daimler, Abu Dhabi to buy Formula 1 team Brawn GP

Published Nov. 16, 2009 12:45 p.m. ET

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Aabar Investments says the new "Mercedes Grand Prix" racing team will compete in next year's Formula 1 season under the existing leadership of Ross Brawn.

Mercedes maker Daimler will owns 45.1 percent of the team, while Abu Dhabi government-run Aabar will have a 30 percent share. The remaining quarter will stay with the existing owners.

Aabar says the deal is subject to approval by Swiss and European Union regulators.

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