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Sahara buys 42.5% stake in Force India

NEWS STORY
12/10/2011

It is understood that the Sahara Group has bought a 42.5% stake in Force India the team to be renamed Sahara Force India.

Although yet to be officially confirmed by either Force India or team owner Vijay Mallya - who issued a denial that he was sellling his stake, or a part of it, at the weekend - reports from India claim that it is a done deal, the announcement having been made by Sahara Group's Subroto Roy at a hotel in New Delhi.

"On behalf of the Force India team, I am delighted to announce this partnership," Mallya is quoted as saying. "The team will now be called Sahara Force India.

"Sahara India Parivar will invest 100 million dollars and will have a 42.5% equity share," he added, claiming that the partnership will enable the Silverstone-based outfit to take a giant step forward technologically.

"The team has done a great job in F1 and I would like to congratulate Dr Vijay Mallya," Roy is quoted as saying. "We are very excited about the partnership."

The deal comes two weeks before India's inaugural Grand Prix.

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