CVC to cut F1 stake to 30pc
PRIVATE equity firm CVC Capital Partners will cut its ownership stake in Formula One to about 30 per cent following the company’s initial public offering (IPO), by selling shares on the public market, sources said yesterday.
CVC currently holds about 42 per cent of Formula One after it recently sold a $1.6bn stake to a group of investors, including investment managers BlackRock.
And both Lehman and JPMorgan are expected to sell most of their stakes in the IPO, two sources said.