Tag Archive | "Formula One"

F1 explores $10 billion IPO in Singapore?

F1 explores $10 billion IPO in Singapore?
adapted from asiaone

Bernie Ecclestone ,president of Formula One’s governing body, is reportedly preparing a $10 billion (S$12.6 billion) flotation of the sport on an Asian stock exchange.
Singapore and Hong Kong are believed to be potential venues, according to several media reports.
Ecclestone said CVC would be better off exiting the business via an IPO in Singapore rather than selling it, reported UK’s Sunday Telegraph.
Declining to be named, a source told Bloomberg that CVC Capital Partners, owner of Formula 1, has hired Goldman Sachs Group Inc (GS) to explore the move.
The proposal also includes giving Ferrari, the oldest team in F1, a stake in the new holding company while Red Bull will get extra cash.
The news was first broken by Sky News but has since been removed from its website after a few hours on Saturday night.

Posted in Singapore IPOs, Singapore Trading NewsComments (0)


 

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