Fernandes insists Caterham Group not for sale
© Caterham F1 Team
|27 May 2014 by TF1T Staff | M||Tweet
The Caterham Group is not for sale according to a statement from the company after reports circulating at the weekend claimed so.
A Malaysian newspaper claimed owner Tony Fernandes had put the group - which includes Caterham Cars, the F1 team and various other companies - up for sale and was asking for £350 million ($590m).
However in a statement issued on Tuesday, he clarified that the report was untrue and said the group is looking for investors.
"Despite press rumours to the contrary, Caterham Group is not for sale," it reads. "The reports circulating this weekend are factually incorrect.
"It is, however, true that the Group is actively searching for additional investment as it seeks to fulfil ambitious plans to develop.
"The shareholders of the Group, co-Chairmen Tony Fernandes and Datuk Kamarudin Meranun, remain wholly committed to the Caterham brand."
Fernandes added: "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."