Motor racing-BMW F1 team sold to Swiss-based investment group
LONDON, Sept 15
LONDON, Sept 15 (Reuters) - BMW has agreed to sell its Formula One team to Swiss-based Qadbak Investments, the Munich carmaker said on Tuesday.
"The contract was signed today," BMW said in a statement, adding that Qadbak represented the interests of "certain Middle Eastern and European-based families".
"A strong investor has therefore been found for the Hinwil-based team. Qadbak´s interest in the team will be represented by Lionel Fischer, a Swiss national," it added.
(Reporting by Alan Baldwin, editing by Ken Ferris
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