By Andy Sambidge and Soren Billing
UPDATE 2: Firm teams up with car maker Daimler for majority stake worth $183m.
was on Monday revealed to be part of a $183 million deal to take a majority stake in Formula 1 world championship winning team Brawn GP.
Brawn Grand Prix, whose driver Jenson Button won this year’s Formula One championship, was acquired by Daimler and
, said a statement by both companies.
Daimler took a 45.1 percent stake in the team, which will be known as Mercedes Grand Prix, while
will take a 30 percent stake.
The companies are paying GBP110 million ($183 million) between them, newswire Bloomberg reported, citing
chairman Khadem Abdulla Al Qubaisi.
Daimler will relinquish its 40 percent stake in McLaren, which the British team will buy back over a two-year period, but could continue supplying its engines until 2015.
"The new Mercedes Grand Prix racing team will compete in the 2010 Formula One World Championship under the continuing leadership of Team Principal Ross Brawn,"
bought 9.1 percent of Daimler and in July,
bought a 32 percent stake in Virgin Galactic, the commercial space flight firm, for about $280m.
is 70 per cent owned by the Abu Dhabi-based International Petroleum Investment Company.
Separately, Aabar said it was considering increasing its stake in German carmaker Daimler.
Asked whether the company was considering boosting its position in Daimler, Khadem al-Qubaisi told Reuters by telephone: "Yes." He did not elaborate.