Toro Rosso tighten ties with Abu Dhabi

The Toro Rosso Formula One team strengthened their ties with Abu Dhabi Tuesday with the announcement of a sponsorship deal with Spanish oil company Cepsa.

The Toro Rosso Formula One team strengthened their ties with Abu Dhabi Tuesday with the announcement of a sponsorship deal with Spanish oil company Cepsa.

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Cepsa are owned by Abu Dhabi government fund International Petroleum Investment Company (IPIC), who also have a stake in carmaker Daimler through state-owned subsidiary Aabar Investments.

Aabar and IPIC own two other Toro Rosso sponsors - Swiss-based Falcon Private Bank and Canada's Nova Chemicals.

Italian-based Toro Rosso are owned by Red Bull but the Austrian energy drinks company has been looking to sell.