CVC is not ruling out selling its 100 per cent ownership of formula one’s commercial rights, according to financial news specialists Reuters.<\/p>\n
The report said “several sources” believe the private equity firm is conducting a strategic review of its stake for a potential “sale, IPO or debt refinancing”.<\/p>\n
Reuters said “a number of would-be buyers”, including fellow private equity firms, sovereign wealth funds and other businesses, “have expressed interest” in buying F1.<\/p>\n
“CVC would love to sell it but they’re not sure if they can get the right price at the moment,” said one of the sources.<\/p>\n
The report mentioned that the bribery affair surrounding former F1 banker Gerhard Gribkowsky could complicate the sale.<\/p>\n
But a sale “would suit the lenders as the existing financing is very cheap”, another source said.<\/p>\n
F1 and CVC declined to comment.<\/p>\n
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