LONDON: Mercedes motorsport head Toto Wolff has sold his remaining stake in the Williams Formula One group to U.S. shareholder and medicinal services official Brad Hollinger, both sides said on Wednesday.
Hollinger had purchased a 10 percent stake in the group from Wolff in two earlier exchanges, with the Austrian saying a year ago that his remaining shareholding represented "barely shy of 5 percent" of the previous champions.
Group chief Frank Williams has a 52 percent stake and fellow benefactor Patrick Head 10 percent.
Of the remaining shares, 20 percent are recorded on the Entry Standard of the Frankfurt Stock Exchange and a further 3 percent are held by a worker trust.
Wolff had consented to strip his holding, which he procured in 2009 for speculation purposes, when he turned into an overseeing accomplice at title holders Mercedes in 2013."I am astounded how enthusiastic I am about this day, to be slicing my last business binds to Sir Frank (Williams) and to the group at Williams," the previous Williams official executive said in an announcement.
"The arrangement to offer my stake was a long haul one concurred with Daimler in 2013 — however it was constantly critical to locate the right financial specialist, who was doing it for the right reasons."
The Formula One season begins in Australia on March 20.
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