Goldman to Explore IPO of Formula One Business

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bry789123

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http://www.bloomberg.com/news/2012-03-20/cvc-said-to-hire-goldman-to-explore-ipo-of-formula-one-business.html

CVC Capital Partners hired Goldman Sachs Group Inc. (GS) to explore a possible sale of a stake in Formula One in an initial public offering, said a person with knowledge of the matter.

Any deal to sell part of CVC?s holding may value the motor- racing sport at more than $10 billion and Singapore is a possible listing venue, the person said, declining to be identified as the deliberations are private.

Formula One?s Chief Executive Officer Bernie Ecclestone said in November the company should seek a listing in Singapore because of Asia?s growing interest in the sport, the Sunday Telegraph reported at the time. Ecclestone said CVC, the U.K. private equity firm, would be better off exiting the business via an IPO in Singapore rather than selling it, according to the Telegraph.

Sky News reported yesterday that CVC had hired Goldman Sachs to study a placement of part of its stake in Formula One. Executives at CVC in Hong Kong didn?t immediately respond to phone calls seeking comment on the possible IPO. Edward Naylor, a spokesman for Goldman Sachs in Hong Kong, declined to comment.

CVC bought majority control of Formula One in March 2006, according to the private equity firm?s website. F-1 has turnover of 1.17 billion euros ($1.55 billion) and employs 200 people, the website shows.
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F1 forum?
 
argatoga said:
Look next to the rep button, there is a triangle with an ! in it. Use that to get an admin's attention concerning a post whether it be moved to another forums or what have you.
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Doesn't work
 
Viper007Bond said:
Does too. Thread moved.
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Nope, still plenty of Green Hell, LeMons and assorted other motorsport strays on the loose looking for someone to round them all up in to the Motorsport forum. Probably should even be Green Hell and LeMons subforums.
 
Anyway back on subject, ALMS have a slogan: For the Fans.

F1: For the Bankers!
 
Does this mean that in the future, we could be buying F1 shares?
 
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