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Toto Wolff bought shares in Aston Martin

Mercedes team principal Toto Wolff became a co-owner of the British car manufacturer, buying 4,77% of the shares.

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Toto Wolff bought shares in Aston Martin
Fuente imagen: Twitter.com

According to Motorsport.com, at the time of the transaction, Toto Wolff purchased 4.77% of the shares. Next week, Aston Martin will conduct a dilution of the share between the shareholders, which will reduce the Wolff's stake to 0.95%.

Wolff made a private investment in Aston Martin with the permission of Mercedes. At the same time, Daimler, which owns Mercedes, owns 5% in Aston Martin and has the right to veto the appearance of new investors in the company.

"Fully diluted following the pending rights issue, this investment will represent a 0.95% stake in the company," – a spokesperson for Mercedes said.

"It is a financial investment and Toto's partnership and executive role with Mercedes are unaffected by the transaction."

The Austrian has been leading the German concern’s team in Formula 1 for the past eight years. Wolff's actions don’t mean that his role in the Mercedes will change in any way. Toto has repeatedly said that he is happy with his job and isn’t going to become a Director of Aston Martin. The Mercedes boss is currently in the process of negotiating with Daimler management to extend his own contract as a boss of Mercedes AMG F1 team.

The main owner of Aston Martin is Canadian businessman Lawrence Stroll. Thanks to Stroll's decision, since next year the Aston Martin name will be represented in Formula 1 by its own team. This name will be given to the Racing Point team, also owned by Stroll.

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