One of Germany’s most famous automotive destinations now belongs to a Russian billionaire.
Viktor Kharitonin, chairman of pharmaceutical company Pharmstandard OJSC has agreed to buy two-thirds of the company that controls the track, Bloomberg reported today. Auto parts manufacturer Capricorn Automotive GmbH agreed to buy the track in March but failed to complete the acquisition. At the time, it said it would pay $139 million for the race course renowned for its particularly challenging and dangerous Formula 1 course.
The price Kharitonin paid for his stake in the company hasn’t been announced. It also still isn’t clear what the acquisition means for the massive facility, but the report did indicate that the stake Kharitonin bought includes the North Loop and the newer 3.1-mile Grand Prix loop. Part of the stipulation in the track being sold is that it will remain open to the public and to automakers for testing.