Caterham Group chairman Tony Fernandes has refuted claims that the company is up for sale.
Earlier, a report from Malaysian media stated that Fernandes was looking to sell the Caterham Group for around $589 million, but the company has released a statement disputing the report. According to the Caterham Group, the reports are “factually incorrect” and that Fernandes, along with his co-chairman Datuk Kamarudin Meranun, are “wholly committed to the Caterham brand.”
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The company is however, seeking additional investors so that it can “fulfill ambitious plans to develop.”
“The Caterham Group is not for sale,” said Fernandes in the statement. “We love what we build and we are always looking for further investment. This is no different to how we started AirAsia. Yes, we are constantly challenging ourselves and making decisions on everything from the structure to projects within the Group. That is normal business. That does not mean we are selling.”
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