18 June 2024
CVC to sell 20pc of F1 for $2bn - report
Ecclestone plans to keep his 5.3 per cent stake
![CVC to sell 20pc of F1 for $2bn - report](IMG/logo/arton39693.jpg?1521393786)
More details about formula one’s planned stock market floatation have emerged.
Bloomberg, the financial news agency, said majority owner CVC is seeking $2 billion by floating "about 20 per cent" of the sport.
That would value F1 at about $10 billion.
The information was verified by "four people with knowledge of the matter", the report said.
"CVC wants to conduct the sale in Singapore as early as June, and is in discussions with investment banks about its plans, which aren’t final," Bloomberg added.
The report added that Bernie Ecclestone plans to keep his 5.3 per cent stake and will remain F1’s chief executive.
Search
Formula 1 news
18 June 2024
Russell’s Mercedes seat could be in danger - Schumacher
18 June 2024
Red Bull considering joining flexible front wing trend
18 June 2024
Renault-Alpine may scrap 2026 F1 engine project
18 June 2024