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Toto Wolff sells shares in Williams to American businessman

Jun 20, 2014, 10:30 AM EDT

Spanish F1 Grand Prix - Practice Getty Images

Mercedes executive director Toto Wolff has sold some of his shares in Williams some eighteen months after leaving the team.

Wolff joined Mercedes at the beginning of the 2013 season, having previously enjoyed a management role at Williams where his wife, Susie, is a test driver. In order to avoid a conflict of interest, the Austrian was told to sell his shares in the British team.

Some eighteen months later and over a full season into his new role at Mercedes, Wolff has finally found a buyer in the form of American healthcare magnate Brad Hollinger.

Speaking to veteran F1 journalist Adam Cooper, Wolff was pleased to have sold 5% of his shares to Hollinger and is confident that he is someone who can aid Williams.

“He’s a serious entrepreneur,” Wolff explained. “He owns historic cars and he has an understanding for the business, and he decided to take a similar role like I did in 2009, start with a financial investment and then see how it pans out.

“He has 5% and he has an option to acquire more from me, but has no plans at the moment beyond that.”

NBCSN’s Will Buxton spoke with Hollinger in the Austrian Grand Prix paddock today, and said that the CEO of The Hollinger Group seemed enthusiastic about his new investment.

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