Renault are reportedly prepared to exercise their veto power to prevent any consortium connected to Christian Horner from acquiring Otro Capital’s 24 per cent shareholding in Alpine, according to reports.
The French manufacturer, which holds majority ownership of the Enstone-based Formula One outfit, retains the ability to block any sale of the minority stake until September.
This blocking mechanism would reportedly be deployed against any interested party with links to the former Red Bull team principal, who spent two decades at the energy drinks outfit before his departure last summer.
Horner is understood to have been holding discussions with potential investors whilst leading a group seeking to purchase the available shares.
Christian Horner is understood to have been holding discussions with potential investors
| REUTERS
Mercedes have now withdrawn from negotiations to acquire the stake following a breakdown over valuation, the BBC reported on Saturday.
The German automotive giant and its Formula One operation had reached an agreement in principle with Renault to purchase the shares, though the deal was struck with the majority owners rather than Otro directly.
However, the American investment fund is seeking $720 million for its holding, a figure that would place Alpine’s total worth at $3 billion.
Mercedes reportedly consider this asking price above market value, with the two sides understood to be at least $150 million apart.
Otro acquired the stake for approximately €200 million in June 2023.
Horner’s departure from Red Bull came with a substantial financial settlement after his 20-year tenure at the Milton Keynes team, with this summer marking the first anniversary of his exit.
Mercedes have now withdrawn from negotiations to acquire the stake following a breakdown over valuation
| MERCEDES
His gardening leave period is understood to have concluded earlier this month, freeing him to pursue new opportunities within the sport.
The former team principal has been actively engaging with investors as he seeks to spearhead a consortium interested in acquiring the Alpine shares.
His potential return to Formula 1 through this route would represent a significant development, though Renault’s reported willingness to deploy their veto could prove a decisive obstacle.
Christian Horner has been widely rumoured to return to F1 soon | PA
A Renault source told the BBC regarding Mercedes’ withdrawal: “We understand that discussions have stopped.”
Alpine’s executive director Flavio Briatore confirmed multiple parties remain interested in the shareholding. He said: “In this moment, we have three or four potential buyers.”
Briatore emphasised the nature of the transaction, stating: “Don’t forget, we’re talking about the Otro shares, nothing to do with Alpine. It’s the share owned by this hedge fund, it’s called Otro, an American fund, they want to sell the 24 per cent, and a few candidates are ready to do the deal.”
When asked about his own interest, Briatore dismissed the notion: “No, no, no, no. Just looking.”
He added: “If somebody buys the shares, we are very happy.”
