Mercedes Drops Alpine Stake Deal Over Price

Mercedes has reportedly ended talks to buy Otro Capital’s 24% stake in Alpine F1 after rejecting an asking price of about $720 million that would have valued the team at roughly $3 billion.

The deal had been expected for weeks and would have tied Mercedes more closely to an Alpine operation it already supplies this season with power unit components, transmission and rear suspension. Instead, the proposed minority investment has been dropped after a sharp gap emerged between the seller’s valuation and what Mercedes considered a sensible price.

According to the reports, Otro sought around €618 million to €620 million for its 24% holding. That equates to an overall Alpine valuation of about €2.58 billion, or roughly $3 billion. Mercedes is said to have valued Alpine much lower, in the $2.2 billion to $2.4 billion range.

That made the numbers difficult to justify from Mercedes’ side. One report noted Forbes valued Alpine at $2.45 billion in November 2025, while another said the team was valued at €1.89 billion at the end of last season. On that basis, Otro’s stake would have been worth about €453.6 million rather than the figure it was seeking.

A Renault source, quoted in reporting on the collapse, said: “Our understanding is that the talks have been terminated.”

The failure of the deal leaves Alpine’s minority-share sale unresolved. Otro bought the stake in June 2023 for $233 million, or about €200 million, and Renault still owns the remaining 76% of the team. Renault also retains a veto right over any sale until September, so any new buyer would still need to clear that hurdle.

Christian Horner has also been linked with interest in the same 24% holding through an investor group, but the immediate result is that the Mercedes route is closed and Alpine’s ownership picture remains unchanged for now.