Official: Renault sells shares of the team but remains in F1
di F1 editorial teamDecember 16, 2009
Renault announced on Wednesday that it had sold a large part of its shares in its Enstone-based Formula 1 team. As expected, the buyer is Genii Capital of Luxembourg, led by Gerard Lopez, who will lead the team together with the French manufacturer.
A letter of intent has been signed and the agreement "should be concluded by the beginning of 2010".
It was also confirmed that the team will still be called Renault in 2010 while Red Bull will continue to use the French V8s built in Viry-Chantillon.
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