Formula 1 engine manufacturer Renault has held discussion with Force India in regards to buying a bulk stake in the F1 team according to Autosport.
The French multinational automobile manufacturer are currently aims to return as a factory F1 team with Lotus, Force India or Toro Rosso the likely consumer teams they are targeted.
Sahara Force India team chief Vijay Mallya told Autosport that Renault asked for the meeting – their second of the season – and he met with Renault representative and consultant Alain Prost on Saturday night in Belgium.
“Yesterday was a conversation from their side to update me on the fact no decision has been taken, they haven’t made a proposal about the board of Renault,” Mallya said.
“Secondly, he wanted to know how I would feel about shareholding. Would we be willing to consider being a minority. If so, what would be our aspirations.
“We didn’t talk about engine supply at all. We talked generally about their interest in about potentially becoming a constructor, that they are talking to multiple teams and about what is my vision and what is possible and not possible.
“They asked me: ‘Would you be prepared to part with a majority stake?’ If I said no, maybe it would have been end of conversation.
“I said it has to be considered, in light of a potential offer, and secondly I asked what are the minority protection rights you offer?
“There is no deal on the table. They have not made a decision about their plans. It’s very preliminary.”
Three parties are holding Force India shares Vijay Mallya (Team Chief and UB Group Chairman), Sahara Group and the Mol family, all of whom will have to consent to any potential deal.
“I have a mandate to speak for all three,” he said. “But if there is a deal on the table, I have to discuss it with the board.