Advertisement
Rumors
Rumor Rating Description
A rumor rated as 'speculation' is one that has no supporting information
A rumor rated as 'strong' is one where we received information from more than one source.
A rumor rated as 'fact' is one that has proven to be true
A rumor rated as 'false' is one that has proven to be false based on new information
These rumors are just that, RUMORS, and are not to be taken as 'fact' unless so noted.  Please visit our Hot News page for news.  If you have a rumor, or can supply more information about one listed here, e-mail us with as much supporting information as possible and we may post it. User Agreement and Disclaimer. Newer rumors supersede older ones of the same topic.  Go to our forums to discuss any rumor.
for your iPhone
for your iPad

2013 IndyCar Silly Season Page | 2013 F1 Silly Season Page (Coming)
Go to our forums to discuss this news
DATE News (chronologically)
04/17/12
f1
 UBS joins Goldman in role for Formula One IPO  UPDATE Private equity firm CVC Capital Partners has hired UBS and Goldman Sachs to lead an expected US$2 billion initial public offering (IPO) of Formula One on the Singapore Stock Exchange, Reuters has reported.

Citing sources with “direct knowledge of the matter”, Reuters stated that the IPO is expected in July with Goldman and UBS set to perform the lead roles of joint global coordinator and bookrunner for the process. Bank of America-Merrill Lynch, Morgan Stanley and Deutsche Bank were also reportedly invited to take part in a pitching process conducted in Singapore last week. Goldman has already conducted early work on the process, while UBS has close ties to F1 as an official global partner of the sport.

CVC holds a 63.4% stake in Formula One. Reuters reports that CVC is seeking to list part of the business in Singapore, which stages an annual grand prix, but would continue to hold a stake. The report comes after Formula One’s commercial rights-holder Bernie Ecclestone last month said the majority of the championship’s teams, including Ferrari, McLaren and Red Bull Racing, had reached an agreement to continue racing after the current Concorde Agreement expires at the end of this season. The confidential Agreement between Ecclestone’s Formula One Management (FOM) and the teams divides up the commercial revenues of the sport, including television rights and prize money. Sportsbusiness.com



04/16/12 Private equity firm CVC Capital Partners has hired UBS and Goldman Sachs as joint global coordinators and bookrunners for Formula One's roughly $2 billion initial public offering in Singapore expected in July, sources with direct knowledge of the deal said on Monday.

Goldman's role in the deal was expected, given the bank's early work on the process, while for UBS, the top status on the IPO is a major boost for its Southeast Asia operation.

Several top investment banks are competing for a role in the offering, both for prestige in being part of such a high profile transaction, and for the tens of millions of dollars in fees the deal will produce.

Like any major stock offering in its early stages, the final list of banks involved has yet to be determined. CVC, Goldman Sachs and UBS declined to comment. Reuters/SBS World News
Rumors Archives
2000 2001 2002 2003
2004200520062007
2008200920102011
2012201320142015

Search Rumors
Search Help

Banner 10000012

  Home | Contact | User Agreement and Disclaimer Back to the Top

Copyright 1999-2013 | AutoRacing1 is an independent internet online publication and is not affiliated with, sponsored by, or endorsed by IndyCar, NASCAR, FIA, Sprint, or any other series sponsor. This material may not be published, broadcast, or redistributed without permission.