(CNN) -- German car manufacturer Mercedes completed a takeover of the rebranded Brawn GP Formula One team on Monday, after its parent company Deimler acquired all remaining shares from team principal Ross Brawn and his management partners.
In collaboration with its largest shareholder Aabar, Deimler purchased the remaining 24.9% of the team, which is now known as Mercedes GP.
German corporation Deimler initially bought a 45.1% share of the team when it was called Brawn GP in November 2009, and that stake has now risen to 60%. Aabar, a global investment company owned by the Abu Dhabi government, now owns 40% of Mercedes GP.
"Daimler and Aabar's acquisition of the remaining 24.9% stake will be a further step in the consolidation and strengthening of our team for the future," Brawn told the official F1 website.
"I remain fully committed to our team for the long-term, along with the management team and all of our employees. We all look forward to the challenge of making our team successful, and proudly representing Mercedes-Benz."
The Brawn GP team competed in the elite motorsport for only one season, after the completion of a management buyout of the Honda Racing team in February 2009.
The 2009 season was a huge success for the British-based team, as they clinched the constructors' title as well as the drivers' championship through British racer Jenson Button.
The team was renamed Mercedes GP for the 2010 campaign, and achieved a fourth-place finish in the constructors' standings.
The German duo of seven-time world champion Michael Schumacher and 25-year-old Nico Rosberg will once again race for the team in 2011.
Elsewhere, last year's double world champions Red Bull have announced a sponsorship deal with luxury carmaker Infiniti.
The Japanese manufacturer, which is parented by Nissan, has a marketing agreement with the British-based marque which will cover the 2011 and 2012 seasons.
Infiniti's logo will now be present on Red Bull's new RB7 car and their drivers' overalls.
Team principal Christian Horner hailed the new deal and said the agreement will have both commercial and technical benefits for Red Bull.
"The technical wealth and resources that Infiniti have at their disposal through Nissan is quite phenomenal," Horner told CNN.
"As an independent team, it was the one piece that Red Bull previously didn't have compared to the likes of Ferrari and Mercedes. So for us, it's important as a technology partner and a commercial partner."
German driver Sebastian Vettel became the youngest-ever winner of the drivers' championship for Red Bull in 2010, and the 23-year-old will begin the defense of his crown at the Australian Grand Prix on March 27.