Renault poised to block Christian Horner’s Alpine share acquisition
Renault is reportedly prepared to exercise its veto power to prevent any consortium connected to Christian Horner from acquiring Otro Capital’s 24 per cent shareholding in Alpine, reports BritPanorama.
The French manufacturer, which holds majority ownership of the Enstone-based Formula One team, retains the ability to block any sale of the minority stake until September. This mechanism would reportedly be used against any interested party linked 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 while leading a group seeking to purchase the available shares. However, Mercedes has withdrawn from negotiations to acquire the stake following a breakdown over valuation. The German automaker and its Formula One operation had reached an agreement in principle with Renault to purchase the shares, although the deal was struck with the majority owners rather than Otro directly.
The American investment fund is seeking $720 million for its holding, which would value Alpine at approximately $3 billion. Mercedes reportedly considers this asking price above market value, with the two sides understood to be at least $150 million apart. Otro acquired the stake for around €200 million in June 2023.
Horner’s departure from Red Bull included a substantial financial settlement after his lengthy tenure at the Milton Keynes team, with this summer marking the first anniversary of his exit. His gardening leave period is believed to have concluded earlier this month, allowing him to pursue new opportunities within the sport, including actively engaging with investors as he seeks to lead a consortium interested in the Alpine shares.
Renault’s reported willingness to deploy their veto could prove a significant hurdle for Horner’s return to Formula 1. A source from Renault stated regarding Mercedes’ withdrawal: “We understand that discussions have stopped.” Alpine’s executive director Flavio Briatore confirmed that multiple parties remain interested in the shareholding, noting, “In this moment, we have three or four potential buyers.”
Briatore emphasised the nature of the transaction, clarifying, “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.” On his own interest, Briatore dismissed the notion, stating, “No, no, no, no. Just looking.” He added, “If somebody buys the shares, we are very happy.”
The unfolding drama surrounding Horner and the Alpine shares underscores the intricate negotiations and valuations that shape the world of Formula 1, a landscape where fortunes can quickly sway and ambitions collide in pursuit of a competitive edge.
