Williams team principal Claire Williams says the company has received interest from a number of “high-quality” potential investors as it evaluates the possibility of selling all or part of its operation.
Williams announced in May that it had launched a strategic review in search of fresh investment, a process that remains ongoing.
She stressed that this process was still on target to meet the original three-to-four month timeline that was proposed.
“We’re happy with the process and how it is going so far,” said Williams when asked to give an update on progress.
“We have received a number of very interesting potential investors and we’re talking to those at the moment.
“They are of a high quality, which we’re delighted about, and we continue to go through that process.
“We said we anticipated that it would last for anywhere between three to four months and we’re still on that timeline.”
Williams was asked whether any of the parameters had changed in terms of the type of investments it was considering.
She said that there was no change and that the “offer period” is still in effect in line with what was originally announced.
The continues to race as normal in F1 while the search for investment continues, with Williams also re-iterating that the team has the necessary running budget to complete the 2020 season.
“The parameters haven’t changed,” said Williams.
“As everybody knows, Williams is a listed company. We have to operate as per the Takeover Code and Panel and their guidelines that they dictate and that’s why the strategic review process is as it is.
“We are looking for either investment into the team, the divestment of a minority or majority shareholding, or a full sale.
“So we’re still thinking along any of those lines. The options are available to us and it will be the board’s decision as to the best option that’s put on the table.”
Williams also clarified recent reports that Toto Wolff, who first bought a stake in the team in late 2009 before cutting back his stake when he joined Mercedes, had recently bought a new share in the team.
“The reports weren’t correct,” said Williams.
“Toto, as everybody knows, bought a shareholding a long time back now from Frank and Patrick.
“He subsequently joined Mercedes and as part of that move, he obviously had to divest his shareholding.
“Brad Hollinger, who is one of our minority shareholders at Williams and a non-executive director, bought the majority of those shares from Toto but has not completed on that remaining 5%, so they have returned to Toto’s hands.
“Toto has not bought new shares in the business in the recent past or the near past. It was just an issue with a transaction.”
