Mercedes has walked away from negotiations to acquire Alpine’s 24% minority stake after deeming the price excessive. Renault’s Alpine, owned partly by investment vehicle Otro Capital, sought $720 million for the share, valuing the team at roughly $3 billion. Mercedes and team principal Toto Wolff had previously agreed in principle with Renault to proceed. The move signals Mercedes' caution as it evaluates long‑term engine partnerships.

Otro Capital purchased the block for €200 million in June 2023, but now demands a valuation Mercedes considers well above market. Sources say Mercedes views Alpine at $2.2‑$2.4 billion based on revenue multiples, a figure far lower than the seller’s ask. The deadlock leaves other suitors – including investors linked to former Red Bull boss Christian Horner – on the sidelines. Analysts say the gap mirrors Alpine’s dip.

Renault retains a veto on any sale until September and reportedly rejected further talks, wary of a Horner‑linked buyer. Alpine’s recent Gucci title partnership, brokered by Flavio Briatore, underscores its need for cash. With Mercedes planning to trim its customer roster to two teams before the 2031 engine rule change, Alpine’s engine supply remains uncertain. If Mercedes cuts ties, Alpine must find an engine partner.