BlackRock Buys Stake in Formula 1 Ahead of Singapore IPO

Overland Park : KS : USA | May 22, 2012 at 8:54 AM PDT

Source: International Business Times

XX XX

Views: Pending

Articles The three companies purchased a combined 21 percent of Formula 1 for $1.6 billion. CVC owned 63.4 percent of F1 after it bought a majority stake in the racing company in 2006 for $2.5 billion. CVC will continue to hold a controlling stake in the company. FULL ARTICLE AT International Business Times

Credibility
Reach

More News From: Overland Park : KS : USA

News Stories

Barclays to sell BlackRock stake at a discount

International Business Times

British bank Barclays will sell its nearly 20 percent stake in BlackRock at a discount, sending the U.S. asset manager's shares down 2 percent after the bell. Barclays will sell 26.2 million BlackRock shares at $160.00 (101.5 pounds) per share, a 2...
Formula One owner cuts stake in $1.6b deal

New Zealand Infotech Weekly

Three investment groups have bought a 21 percent stake in Formula One from private equity firm CVC Capital for $1.6 billion ahead of the motor racing company's planned flotation in Singapore. The deal sets a benchmark valuation of at least $7.6...
CVC makes £1bn Formula 1 disposal

BBC

CVC sells part of its stake for £1bn CVC took a stake in Formula 1 in 2006 Formula 1's largest shareholder, CVC Capital, has sold a 21% stake in the sport, cutting its holding to 42%. Three financial groups, BlackRock, Waddell & Reed and Norges Bank...
DealBook: CVC Capital Is Said to Have Reduced Its Stake in Formula One

International Herald Tribune

Norges Bank Investment Management, the Norwegian sovereign wealth fund, also purchased a 4.2 percent stake from CVC Capital for $300 million. The motor racing company, which has targeted Asia as a major growth area, intends to set the final pricing...