Porsche Importer Buys South Africa’s F1 Racetrack

Porsche South Africa has acquired the Kyalami Formula One race track in South Africa for 205 million rand (€14.5 million), Bloomberg News reports.

The company, an independent importer of Porsche vehicles, is not a part of Porsche AG, according to Bloomberg.

The 72-hectare site outside Johannesburg has a 4.3-km racetrack that staged South Africa F1 races until 1993. The facility was auctioned because its owner is in liquidation.

The auction house that handled the sale tells reporters Porsche South Africa intends to further develop the facility but also use it as a track.