News Details
Liberty agrees $1.55bn deal with investors for F1 purchase
Liberty Media has announced an agreement with third-party investors to raise $1.55 billion to support the purchase of Formula 1. Liberty bought a controlling stake in the sport back in September, in a deal worth $8 billion. The deal was for a 19.1 percent stake, brought from main shareholder CVC Capital Partners. On Wednesday, Liberty said a deal with investors had been reached to fund the acquisition. The third-party investors are Coatue Management, the Shaw group, JANA Partners, Ruane, Cunniff & Goldfarb, Soroban Capital Partners, SPO Advisory, and Viking Global Investors. The investors have committed to the financing through a subscription of Liberty's common stock, valued at $25 per...
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9y ago from Motorsport.com
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