Daimler AG will take a majority stake in the Mercedes GP Formula One team by acquiring the 24.9 percent owned by Brawn GP.
The German carmaker says the acquisition will result in the company owning 60 percent of the team, with the remaining 40 percent in the hands of Aabar Investments based in Abu Dhabi.
Mercedes bought out Brawn GP after it won the 2009 Formula One championship. The team's drivers are seven-time champion Michael Schumacher and Nico Rosberg. Ross Brawn remains the team chief.