F1's plans to float on the Singapore stock exchange are continuing to harden. The sport's majority owner CVC has reportedly lined up several banks - including UBS, RBS, Morgan Stanley, Goldman Sachs, Santander, DBS Group Holdings and CIMB - to handle the transaction.
And now media reports, including in the authoritative Financial Times, say Austrian businessman, Nestle chairman and existing F1 board member Peter Brabeck-Letmathe is being lined up to chair the parent company. Bernie Ecclestone would remain chief executive.
It is expected that the 30 per cent, multi-billion dollar floatation could occur as early as June, with Bloomberg reporting that the application could be filed this week. CVC and Nestle, the food giant, declined to comment. (GMM)
F1 racing ahead with $3bn floatation plans
- Published on 26 Apr 2012 12:48
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- By: Rob Veenstra
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Jan 26
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M. Verstappen
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G. Russell
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L. Hamilton
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L. Norris
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C. Leclerc
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A. Antonelli
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Bahrain International Circuit - Winter testing
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G. Russell
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A. Antonelli
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Formula 1 Calendar - 2026
Date
Grand Prix & Circuit
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Spain
Circuit de Catalunya
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Bahrain
Bahrain International Circuit
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Bahrain
Bahrain International Circuit
6 - Mar 8
Australia
Albert Park
13 - Mar 15
27 - Mar 29
Japan
Circuit Suzuka
10 - Apr 12
Bahrain
Bahrain International Circuit
17 - Apr 19
Saudi Arabia
Jeddah Street Circuit
1 - May 3
United States of America
Miami International Autodrome
22 - May 24
Canada
Gilles Villeneuve
5 - Jun 7
Monaco
Monte Carlo
12 - Jun 14
Spain
Circuit de Catalunya
26 - Jun 28
Austria
Red Bull Ring
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