Mercedes to acquire 100 percent of Ilmor
DaimlerChrysler AG has agreed terms to purchase Mercedes-Benz's F1 engine partner, Ilmor Engineering, by 2005. The Brixworth, UK, company will operate as Mercedes-Ilmor with immediate effect. The German/US giant recently acquired a majority stake [Sept 17], but will buy the remaining stock from current shareholders Mario Illien, Liz Morgan and Roger Penske. Mercedes-Benz board director Dr Jurgen Hubbert said: "This will strengthen the Mercedes-Benz influence on F1 engine development."
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