Cyrte Investments acquires stake in Williams
3 March 2011 – Dutch investment company Cyrte has claimed a five percent stake of Williams Grand Prix Holdings PLC, with the squad co-owned by Sir Frank Williams and Patrick Head making history after becoming the first motorsport outfit to list shares on the Frankfurt Stock Exchange on Wednesday.
The team suffered an early fall with the value of its shares during the opening day of trading, and despite improvements in the afternoon, the figure was just under four percent lower than its original rate. Cyrte CEO Frank Botman believes the partnership with Williams will benefit both parties in the future however, and he is looking forward to working within the world of Formula 1.
"This investment sees Cyrte and Williams create a strategic partnership in which we will assist the team to further develop its potential in all commercial aspects of its business," he commented. "It will also afford Cyrte a platform from which to participate in the growth of Formula 1."