Renault F1 team president Bernard Rey revealed they had decided to maintain a strategic commitment to the sport with the help of GeniiCapital, a Luxemburg based firm specialized in new technologies, brand management and motorsport.
Through 2010, the French company had retained only a 25% shareholding in the team that bears its name, and it has now sold its remaining equity so the outfit is now wholly owned by the GeniiCapital private equity group that is running it.