F1 owner Genii considers buying Group Lotus

Thu, 26 April 2012, 07:35

Apr.26 (GMM) Rumours that F1 team owner Genii is contemplating buying the Group Lotus sports car company are continuing to gain steam.

That is despite Genii’s Gerard Lopez confirming recently that the Enstone based team has ended its sponsorship deal with the carmaker, even though the team will continue to carry the Lotus name.

But subsequent media reports indicate that the newly Malaysian conglomerate DRB-Hicom owned Group Lotus is for sale.

“Genii … is thought to be interested, and its boss, Gerard Lopez, is said to have had talks with Hicom, but also with (Group Lotus chief) Mr (Dany) Bahar about a possible management buyout,” read a report in the Independent newspaper.

Bahar is not ruling out the transaction.

“Whatever happens will happen,” he told the local Norfolk publication edp24.co.uk.

“Genii has expressed interest and if there is a good deal to be done, why should they not be interested? I think it would just make sense.”

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