CVC to cut Formula One stake to 30% after Singapore IPO
CVC Capital Partners will reportedly reduce its shareholding in Formula One to around 30% following the motor racing business’ planned IPO in Singapore, which aims to raise up to $3 billion.
Reuters reported the news on Thursday, shortly after CVC sold a $1.6 billion stake in the company to BlackRock, Waddell & Reed and Norges Bank Investment Management earlier this week. The price at which...
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