JUNE 17, 2012
CVC sells more of F1 business
F1 commercial rights holder CVC Capital Partners has sold a further $500m stake in Formula One after unloading a 21% stake to three investors, Black Rock, Norges Bank and Waddell & Reed on May 22.
F1 commercial rights holder CVC Capital Partners has sold a further $500m stake in Formula One after unloading a 21% stake to three investors, Black Rock, Norges Bank and Waddell & Reed on May 22.
The latter group has invested further, increasing its aggregate holding to 20.9% CVC said, against an enterprise value -- an economic measure reflecting market value of a whole business -- of $9.1bn.