The carmaker announced on Thursday that it will sell Ilmor's 'Special Project Group' - mainly concerned with IRL and NASCAR - to Penske, Mario Illien and late Ilmor co-founder Paul Morgan's wife Elizabeth this month.
"This sale is the final logical step," read a DaimlerChrysler statement, "in the acquisition process."
Mercedes-Ilmor will also change its name to 'Mercedes-Benz High Performance Engines.'
- GMM