Nrburgring Sold to Russian Business Tycoon
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.
[Source: Bloomberg]
Luke is an energetic automotive journalist who spends his time covering industry news and crawling the internet for the latest breaking story. When he isn't in the office, Luke can be found obsessively browsing used car listings, drinking scotch at his favorite bar and dreaming of what to drive next, though the list grows a lot faster than his bank account. He's always on <A title="@lukevandezande on Twitter" href="http://twitter.com/lukevandezande">Twitter</A> looking for a good car conversation. Find Luke on <A title="@lukevandezande on Twitter" href="http://twitter.com/lukevandezande">Twitter</A> and <A title="Luke on Google+" href="http://plus.google.com/112531385961538774338?rel=author">Google+</A>.
More by Luke Vandezande
Comments
Join the conversation
The Russians need a place to build a 21st century Trabant, Russians are knows for high performance vehicles!
Auf Wiedersehen!