Caterham sells stake in sportscar project
10 June 2014 – The Caterham Group, which includes the Caterham F1 Team, has relinquished its share in Société des Automobiles Alpine Caterham, with Renault increasing its stake to 100 per cent, it has been announced.
"This acquisition brings to an end to the partnership signed in November 2012 by Renault and Caterham Group to develop and manufacture sports cars through a joint venture, Société des Automobiles Alpine Caterham, owned 50/50 by the two partners," read a statement to the media.
As a result, Société des Automobiles Alpine Caterham will change its name to Société des Automobiles Alpine. The change will be made as part of a general meeting to be held this month.
"Renault will now continue to develop its own Alpine sports car to be launched in 2016, as initially planned. Caterham Group also plans to continue with its own sports car," the statement added.
It was also stressed that 'other forms of cooperation could still be envisaged' in line with each company's 'strategic policy directions'.