>>> Formula E chief executive makes bid of EUR 600m to acquire company’s full ow

Formula E chief executive makes bid of EUR 600m to acquire company’s full ownership
07 MAY 2018
Alejandro Agag, the chief executive and founder of Formula E (the UK-based electric racing car series), has offered EUR 600m to acquire the company’s full ownership, according to a newswire report. A spokesperson for Formula E confirmed that Agag had conveyed his plans in writing to the company’s board of directors, Reuters reported on 4 May 2018.
The website motorsport.com published excerpts from Agag’s letter, the report noted, and added that the Florida-based Motorsport Network, the owner of motorsport.com, had acquired an undisclosed Formula E stake last year.
The Maryland-based Discovery Communications [NASDAQ:DISCA], Liberty Global [NASDAQ:LBTYA] and Nico Rosberg (the champion of Formula One racing in 2016) are among the shareholders Formula E, the item noted.