Summary:
- Toto Wolff, the team principal of the Mercedes Formula 1 team, has sold a 33% stake in the team to INEOS, a British chemical company.
- This deal is worth around $300 million and will allow Wolff to remain as the team principal and shareholder of Mercedes.
- The sale of the stake is part of a broader partnership between Mercedes and INEOS, which will see the two companies collaborate on various projects, including sustainability initiatives in the automotive industry.