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CVC 'not pursuing' sale of F1 says Ecclestone
Formula One boss Bernie Ecclestone says that the sport's owner, the private equity firm CVC, is not actively looking at selling its controlling stake according to an article in the Daily Telegraph by Christian Sylt.CVC is the single-biggest shareholder in F1 and holds a 35% stake. It invested in the sport in 2005 and, as Pitpass revealed in July, it has to sell up by 2018 at the latest. However, recent reports suggested that it has fast-tracked its plans.CVC hoped to float F1 on the Singapore stock exchange in 2012 but the Eurozone crisis put the brakes on its plan. It stayed in the pits as the prospect of a bribery trial in Munich hung over Ecclestone. However, the clouds cleared in...
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11y ago from Pitpass.com
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