Major Japanese automaker Honda Motor is to acquire a 45 percent stake in the BAR Formula One motorsports team, the company said. British American Tobacco will hold the remaining 55 percent stake in the team, which will continue to conduct operations from its British base in Brackley, Northamptonshire, Honda said in a statement issued late Friday.
Honda did not disclose how much it would pay for the shareholding. Honda returned to the F1 World Championship in 2000, having entered into a contract with BAR to supply engines and jointly develop chassis technology.
It had pulled out of F1 racing in 1992, faced with slumping sales and the need to put financial and human resources into clean and safe cars.
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