Hollywood actor Ryan Reynolds and AC Milan owner RedBird Capital Partners are leading a group of investors taking a stake in Renault SA’s Alpine Formula 1 team that values the business at $900 million.
RedBird, Otro Capital and Maximum Effort Investments will spend €200 million ($218 million) for a 24% share in Alpine Racing Ltd., the unit helming Alpine’s Formula 1 activities, Renault said. Alpine is hosting an event later Monday to give more details on its investment and future product lineup.
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