Caterham not for sale

Caterham Seven 160 front action
Credits: Matt Vosper
28 May, 2014 9:35am Jordan Bishop

Statement from the Caterham Group dismisses sales rumours, although the UK-based brand is seeking new investment to fuel development plans

Caterham bosses have scotched rumours suggesting the Group is up for sale.

The clarification follows reports in the Malaysian media over the weekend that claimed the UK-based company – which includes the beleaguered Caterham Formula One Team  – was on the market for a little over £350 million.

According to yesterday’s statement though, this news is “factually incorrect”, with Group co-Chairmen Tony Fernandes and Datuk Kamarudin Meranun both “wholly commited to the Caterham brand.” 

In fact, rather than trying to cut and run, the announcement actually confirmed that the group is actively seeking “additional investment” as it looks to “fulfil ambitious plans to develop.”

What this will entail remains to be seen, although it’s likely to include an expanded road car line-up and further investment in the brand’s technology and innovation departments. Having recently revealed an F1-influenced Kamui Kobayashi Seven, there may also be further crossover between the company’s motoring and racing departments.

Clarifying the company’s position, Fernandes explained: “The Caterham Group is not for sale. We love what we build and we are always looking for further investment. This is no different to how we started AirAsia. Yes, we are constantly challenging ourselves and making decisions on everything from the structure to projects within the Group. That is normal business. That does not mean we are selling.”

AEX 1334
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