CVC further reduces stake in Formula 1

This additional partial exit indicates that CVC has nearly halved its original 63% stake in the company. Formula 1 is valued at a total of $9.1bn including debt.

In March 2012, CVC reduced its stake by $1.6bn or around 23%. The stake was acquired by Blackrock, Waddell & Reed and Norges Bank Investment Management. 

CVC acquired Formula 1 in May 2006 in a deal estimated to be worth $1.7bn. RBS arranged the debt for the transaction.

The business's IPO on the Singapore Stock Exchange was postponed due to volatility in Asian equity markets in early June. A target date for the offering is not public yet, but was confirmed to be set for later in the year.

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• UK / Ireland
• IPO
• CVC Capital Partners
• United Kingdom