APRIL 12, 1999
Share trading at Sauber
THE Sauber team has restructured its ownership in recent days with the team's commercial director Fritz Kaiser, increasing his shareholding in the team. The Liechtenstein-based businessman, who was responsible for finding backing for the team from Red Bull and Petronas has acquired 14.5% of the shares which had previously be held by Peter Sauber and now controls 24.5% of the team, the same as Sauber. The majority share of the team - 51% of the equity - still belongs to Red Bull boss Dietrich Mateschitz. The majority of the voting rights of the company remain with Peter Sauber and so, in effect, he is still in control.
Kaiser and Sauber say that the change of ownership will have no impact on the way the team operates and that there are no plans to sell any of the shares, although both admit that the team might be an attractive purchase for a major motor manufacturer such as Toyota or Volkswagen.