Atento Colapinto: an American tycoon made an offer to buy Alpine shares

Businessman Steve Cohen offered more than 600 million dollars to keep 24% of the French team

The American businessman Steve Cohen submitted an offer of more than 600 million dollars to acquire 24% of Alpine, in a transaction that could change the stock map of the team of Formula 1 in which Franco Colapinto competes

As reported by the specialized media outlet PlanetF1, the magnate, owner of the New York Mets, a baseball team he acquired for 2.4 billion dollars, and founder of the funds SAC Capital Advisors and Point72 Asset Management, seeks to keep the stake currently held by Otro Capital, which had entered in 2023 with an investment of 218 million dollars.

The growth in the value of equipment in the category in recent years, as a result of the inclusion of new markets, sponsors and audiences, brought that portion to a figure close to 600 million, which would mean a significant profit for the investment group.

Steve Cohen submitted an offer to keep 24% of Alpine

However, Cohen is not the only one interested in the operation. Also in the bid are a proposal from Mercedes and a consortium linked to Christian Horner together with MSP Capital, although the offer of the American businessman would be the tallest so far.

any case, the sales process will not be immediate or simple. Renault, which maintains majority control of Alpine and wants to continue to have it, has the power to approve or reject the transaction and would have even activated a clause to accelerate the exit of Other Capital, despite the fact that the original agreement contemplated this possibility only as of September

For now, the negotiation is ongoing and will have to go through different instances of approval before being finalized. As Renault tries to maintain control of Alpine and add a partner to enhance its development, expectations are growing for the possible entry of a major investor who could redefine the future of the team

Atento Colapinto: an American tycoon made an offer to buy Alpine shares

Atento Colapinto: an American tycoon made an offer to buy Alpine shares

Noticias relacionadas

Argentina agreed with the United States to incorporate new Stryker armored vehicles

The Government of Milei anticipated a record harvest for the countryside thanks to lower taxes

Another last-minute change: Lionel Scaloni summoned Agustín Giay to replace Montiel

The prince of Saudi Arabia seeks to pressure Trump to maintain the war against Iran in the midst of a regional crisis

The Trump administration announced that it will build a permanent base on the Moon

March 24: The Government of Milei released a video about the full history of the 70s