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Octagon Australia has today announced the sale of the CAMS Australian Targa Championship to Targa Australia Pty Ltd, a newly formed company backed by a group of tarmac rally supporters.

The deal will see the CAMS Australian Targa Championship – including Targa Wrest Point, Targa Tasmania, Targa Adelaide and Targa High Country – in the hands of the new entity, effective November 12, 2013

Having acquired Targa Tasmania back in 1999, Octagon has grown the championship from one to four events over the past five years. The series now stands as one of the world`s pre-eminent tarmac rally championships.

Commenting on the sale, Octagon`s Asia Pacific President Sean Nicholls said: “We are delighted to have concluded this agreement with a group that is owned and run by people that have a passion for, and who truly believe in tarmac rallying. They have some great plans for the sport and we certainly wish them well with the championship in 2014, and beyond.”

Targa Australia Pty Ltd spokesman, Les Smith, who owns current Targa sponsor, RDA Brakes, said: “It's very exciting for us to continue our long association with tarmac rallying, and we are looking forward to continuing the growth of Targa in the years ahead. Plans for the 25th Anniversary Targa Tasmania in 2016 will commence immediately. It promises to be the largest field of Targa cars ever assembled.”

CAMS CEO Eugene Arocca has also thrown his support behind the new owners of the Championship: "The CAMS Australian Targa Championship is one of the best managed events in the motor sport world. CAMS is proud to be associated with the Championship and particularly pleased to see that it will remain in the hands of passionate and committed tarmac rally supporters. We congratulate and thank Octagon, and in particular Sean Nicholls, for establishing the series as a world class Championship and look forward to Targa Australia building on that legacy."

The championship dates and details will remain as published for 2014.

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