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Report – Caterham could be up for sale

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Report – Caterham could be up for sale

According to a report coming from far away newspaper Edge Malaysia, the owner of the UK sports brand, Tony Fernandes is touting the sales of the Caterham group.

The Group, which consists of automotive and engineering companies, is under consideration for a sale that would bring the 50-year-old Malaysian entrepreneur close to 350 million pounds (432 million euros). The assets include prize winning car manufacturer Caterham Cars Ltd. but also the Caterham Formula One racing Team, said the newspaper, citing a source that declined to reveal its identity, not being allowed to talk about private matters.

According to the report, the sale is also linked to January’s warning coming from Fernandes, in which he bemoaned the lack of results from his Formula 1 team, even threatening with fund cuts if there are no results soon. No wonder the owner’s anger, as both in the 2012 and 2013 seasons and in the first five races of this season, the team had not won a single point.

Another circulating report, concerning the Caterham Cars division this time, said that Renault and the British brand were terminating a 2012 agreement to jointly develop and revive the Alpine sports brand. Renault is now said to continue development of a new Alpine roadster on its own.

Via Automotive News Europe

by Aurel Niculescu (my Google+) - Tuesday, May 27th, 2014 - filed under Caterham, Industry, News. Image credit: .
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