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Ecclestone eyeing £6bn sale of CVC's F1 stake
As the tenth anniversary (28th March) of CVC's controversial purchase of a controlling stake in Formula One fast approaches, Bernie Ecclestone claims that he has two potential buyers for the private equity giant's remaining 34.6%. Since first buying into F1 in 2006, when it paid just £1.2bn for its majority stake, the British company has sold off around half of its original holding to American asset management giant Waddell & Reed, another American investment management corporation BlackRock and Norges Bank. Whilst holding its stake in F1 for far longer than it usually holds on to an investment, CVC has enjoyed the benefits of what is widely seen as one of the most successful private...
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9y ago from Pitpass.com
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