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Russian Marussia Motors Buys Out LDC to Gain Control of Virgin Racing F1 Team

Files under: News, Tech
Posted by: admin @ 05:42 [11. 11. 10]

The Russian sports car maker Marussia Motors has acquired a significant shareholding in the Virgin Racing F1 team, MaRussia announced. Marussia first became a partner of the Virgin Racing team of Sir Richard Branson in December 2009. Marussia, which is now a majority shareholder in Virgin Racing, bought out a stake from LDC, the private equity arm of Lloyds Banking Group, reported FT.com. From the 2011 season, the team will be known as Marussia Virgin Racing.

Founded in 2007, Marussia Motors produces Marussia B1 and B2 sports cars. The company is headed by Nikolai Fomenko, the Russian motorsport driver and showman. Andrey Cheglakov, who made a fortune by selling the Dendy game consoles in Russia in the 1990s, is an investor in Marussia.

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