A sale of Formula 1 to Liberty Media is to go ahead next week, respected German specialist magazine Auto Motor und Sport reported on Saturday, citing the sport’s commercial supremo Bernie Ecclestone.
The magazine said Liberty Media would transfer the first tranche of payment in the $8.5 billion deal on Tuesday.
Formula One’s biggest shareholders are private equity firm CVC Capital Partners with a 35.5 percent stake and U.S. fund manager Waddell & Reed with 20.9 percent.
Ecclestone holds 5.3 percent of Formula one and his Bambino Trust has another 8.5 percent.
Liberty Media Corporation owns interests in a broad range of media, communications and entertainment businesses.
Those interests are attributed to three tracking stock groups: the Liberty Braves Group, the Liberty Media Group and the Liberty SiriusXM Group.
The Liberty Braves Group consists of Liberty Media Corporation’s wholly owned subsidiary Braves Holdings, LLC, which indirectly owns the Atlanta Braves Major League Baseball club, the Atlanta Braves’ stadium and associated real estate projects.
The Liberty Media Group consists of Liberty Media Corporation’s interest in Live Nation Entertainment, Inc., other minority investments, including Time Warner Inc. and Viacom Inc. and an inter-group interest in the Liberty Braves Group.
The Liberty SiriusXM Group consists of Liberty Media Corporation’s interest in Sirius XM Holdings, Inc.
CVC declined to comment on the auto motor und sport report.
Content on GrandPrix247.com by: staff & contributors, Reuters, AFP, GMM, Getty, Formula 1 teams, sponsors & organisations.
Read the full story at GRAND PRIX 247
No comments:
Post a Comment