Formula One owner CVC in talks with Silver Lake over possible substantial stake deal
Formula One’s (F1) owner CVC is holding preliminary talks with Silver Lake that could see the US firm acquire a substantial stake in F1’s parent Delta Topco, Sky News reported.
Citing company insiders, the report said the talks are taking place alongside other discussions CVC is engaged in with unidentified potential suitors.
Possible deal structures include the acquisition by Silver Lake of stakes held by a number of F1 minority shareholders, or the acquisition of interests from all of F1’s investors on a pro rata basis, the report said.
Valuations of F1 have reached as high as USD 9.1bn, based on investments made by the US-based investment fund manager Waddell & Reed (W&R) since 2012, although recent estimates of F1’s value have come in at under that figure, the report said.
Sky News