One of F1's new owners has bought even more of the sport, it has emerged. Amid expectations last month that the Singapore floatation was going ahead, the US based asset managers Waddell and Reed, and others, bought a $1.6 billion stake in the formula one business from existing owners CVC.
Reuters and Sky News are now reporting that Waddell and Reed has lifted its new stake by $500 million, to almost 21 per cent. CVC, having cut its stake from 63 per cent to 42 per cent, confirmed the news. The news follows F1's plans to delay its stock market floatation due to market turmoil. (GMM)
New F1 owner ups stake by $500m
- Published on 18 Jun 2012 09:48
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- By: Rob Veenstra
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Formula 1 Calendar - 2026
Date
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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
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17 - Apr 19
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Jeddah Street Circuit
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Miami International Autodrome
22 - May 24
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Gilles Villeneuve
5 - Jun 7
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Monte Carlo
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Circuit de Catalunya
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