Industry News
CVC figures reveal details of F1 right sale transaction
17th October 2007
Accounts posted by the UK based holding company Alpha Prema, which is owned by the private equity firm CVC, have revealed details of the transaction in March 2006 in which CVC purchased the commercial rights to Formula One.
The figures show that CVC paid $1.7bn (£834m) for the rights. Three investment banks, JP Morgan, Lehman Brothers and Bayerische Landesbank, which owned 75% of the rights received the majority of that sum while Bambino, the family trust of F1 impresario Bernie Ecclestone, benefited by $478m from the sale its share.
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