News Details
Longbow Finance S.A. acquire Sauber
Sauber's financial restraints seem to have taken an encouraging step after Swiss company Longbow Finance S.A. announced that they are about to buy Sauber Holding AG. As a result of their financial difficulties, Sauber were forced to pull out of in-season testing last week at Silverstone, saying that would prefer to save their resources. The sale will mean that Peter Sauber will step down as owner of the team and be replaced by Pascal Picci, the President and CEO of Longbow Finance S.A. 'As a Swiss company, we are very pleased with having secured the future of a Swiss presence in a highly specialized and innovative industry,' Picci said during the announcement. Current team principal...
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10y ago from PlanetF1.com
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