CVC Sells F1 Stake to Waddell & Reed for $500 Million
18 June 2012 - 9:40AM
Dow Jones News
CVC Capital Partners Inc., a part-owner of Formula One, sold
$500 million of shares in the auto-racing series to U.S. asset
manager Waddell & Reed Financial Inc. (WDR), Bloomberg News
reported Saturday.
The sale values Formula One at $9.1 billion and boosts Waddell
& Reed's holding to 20.9%, CVC said, according to Bloomberg.
Waddell & Reed, BlackRock Inc. (BLK) and Norges Bank Investment
Management paid CVC $1.6 billion for 21% of the company in an
earlier deal announced May 22, Bloomberg reported.
Full story at
http://www.bloomberg.com/news/2012-06-16/cvc-sells-500-million-stake-in-formula-one-to-waddell-reed.html
Write to nymonitoring@dowjones.com
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