A group of investors completed the acquisition of a 24% stake in Alpine Racing from Renault Group for €200m.

A group of investors, including Otro Capital, RedBird Capital Partners, and Maximum Effort Investments, completed the acquisition of a 24% stake in Alpine Racing, a Formula One constructor, from Renault Group, an automobile manufacturer, for €200m ($219m). “This association is an important step to enhance our performance at all levels. First, Otro Capital, RedBird Capital Partners and Maximum Effort Investments, as international players with strong track record in the sports industry, will bring their recognized expertise to boost our media and marketing strategy, essential to support our sporting performance over the long term. Second, the incremental revenue generated will in turn be reinvested in the team, in order to further accelerate our Mountain Climber plan, aimed at catching up with top teams in terms of state-of-the-art facilities and equipment,” Laurent Rossi, Alpine CEO.