NOVEMBER 25, 2005
Is Bernie still a shareholder?
There is considerable confusion about the deal that is currently going through involving the Formula One group and the venture capital company CVC Capital Partners.
© The Cahier Archive
There is considerable confusion about the deal that is currently going through involving the Formula One group and the venture capital company CVC Capital Partners. Although initial reports suggest that the Ecclestone Family shares have been sold to CVC, we are also hearing stories that the shares are remaining with Bernie and indeed that he may even have increased his shareholding a little. Until there is any official word however it is difficult to know the exact status of the deal. Given CVC's previous record the company will be keen to make an announcement as soon as the deal goes through.
It is believed that the man behind the new deal is American Hardy McLain, who was one of the founders of CVC, having previously worked for Citibank. He has been based in London for the last 20 years and has played an important role in the Dorna investment.