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Lotus sells stake in team to investment group 18 Jun 2013

Romain Grosjean (FRA) Lotus E21.
Formula One World Championship, Rd7, Canadian Grand Prix, Practice, Montreal, Canada, Friday, 7 June 2013 Gerard Lopez (FRA) Genii Capital.
Formula One Testing, Day 3, Jerez, Spain, Thursday, 7 February 2013

Lotus have sold a 35 percent stake in the team to investment group Infinity Racing Partners Limited, they announced on Tuesday.

The Enstone-based squad was previously 100 percent owned by Genii Capital, the investment firm co-founded by Lotus F1’s chairman Gerard Lopez. Under the new arrangement, Genii Capital will retain a controlling stake (65 percent) of the team, with Lopez continuing as Chairman and Genii CEO Eric Lux retaining his seat on the Board of Directors.

Speaking about Infinity Racing, an investment consortium comprised of private investors from America, Abu Dhabi and royal family interests of an unnamed oil producing nation, Lux said:

“As Lotus F1 Team results have continued to improve every year, we have been waiting for the right investor who will help make the jump to the top spot in the constructors’ championship.

“In Infinity Racing, we have found a partner with the right connections in addition to technological expertise and a global reach in major markets with key sponsors to achieve this goal. We look forward to working with Infinity Racing as we continue on this exciting journey.”

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