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Renault
Renault looks set to be the next automaker to bail out of Formula 1, and it appears that there are two serious bidders in line to take over the operation. Renault will hold a special board meeting this week to decide on the racing team's fate, and it looks like it may go ahead and just line up a sale right away, instead of announcing a shutdown and then trying work out a sale as Honda and BMW did.
AutoCar reports that Prodrive, which has been trying to break into F1 for several years, may have the inside line on the French outfit. The other primary bidder is Genil Capital, a Luxembourg-based investment fund. The financial group would likely retain the Renault name for the team, while Prodrive would probably run under its own banner. If Prodrive wins out, Renault would remain only as an F1 engine supplier.
[Source:
AutoCar]
REPORT: Two bidders step up to acquire Renault F1 originally appeared on
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07-12-2009, 12:00 PM
