UPDATE 2-Motor racing-Jordan announce takeover by Midland Group

Newswire

(adds quotes from Shnaider, details) LONDON, Jan 24 (Reuters) - The struggling Jordan Formula One team announced on Monday it would be taken over by Midland Group, owned by Russian-born businessman Alex Shnaider. Jordan, founded by Irishman Eddie Jordan, will continue to drive under the name Jordan Grand Prix in 2005. Shnaider said his original plan to launch a Midland team had been altered only "insignificantly" by the Jordan takeover which would give Midland a season of learning. No ...

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