British Property Investor Andrew Ruhan Pays $1.5M For Stake In Lotus F1 Team
British property investor Andrew Ruhan "has bought a 2pc stake in the Lotus Formula One team" for an estimated price of £1M ($1.5M), according to Christian Sylt of the London TELEGRAPH. In February, Ruhan "joined the board of the Oxfordshire-based team, but it denied that he had become an investor." Lotus "is owned by private equity firm Genii Capital, founded by Gerard Lopez, an early investor in Skype." Lopez said Ruhan “is not a large or a controlling shareholder in the team. He is a friend and a business partner in some substantial real estate developments, loves cars, racing and has purchased, if I am not mistaken, two percent of the equity to be on the board and feel involved -- for sure, not a substantial deal for either party”(TELEGRAPH, 5/12).