British chemical company Ineos has acquired one third of the shares in the Mercedes Formula One team from Mercedes' parent company Daimler.
The world championship-winning team is now a third owned by Daimler (which reduced its shareholding from 60 percent), a third owned by Ineos and a third owned by team principal Toto Wolff, who increased his stake from 30 percent to 33.3 percent.
The news also ends months of speculation about Wolff's future at the team after he committed to a further three years as team principal and CEO.
A statement confirmed the 48-year-old Austrian has the option to "transition to a new executive function within the organisation when he decides it is the right time to do so".