Even ahead of F1’s Singapore floatation, the sport has some new owners.<\/p>\n
Reuters, the specialist financial market news agency, said US-based asset managers Waddell and Reed, Blackrock and Norway’s Norges Bank have bought a $1.6 billion stake from existing owners CVC.<\/p>\n
The report cited a source “with direct knowledge of the matter”.\u00a0 The companies did not immediately comment.<\/p>\n
It drops CVC’s stake from 63.4 per cent to about 40pc, the source said.<\/p>\n
We reported on Monday that the Singapore stock exchange approved F1’s plan to raise as much as $3 billion in an initial public offering.<\/p>\n
Other reports said pre-marketing for the listing, likely to go ahead at the end of June, will begin immediately.<\/p>\n
“It is not our practice to publicly comment on our dealings with listing aspirants,” said a Singapore bourse spokesman.<\/p>\n
Some insiders have expressed concern.<\/p>\n
“Look at the muted first-day response to Facebook’s IPO,” an unnamed banker told the Singapore broadsheet Straits Times.\u00a0 “The F1 listing is not nearly as attractive and long-awaited as that.”<\/p>\n
\u00a9 RIF | GMM<\/em><\/span><\/p>\n","protected":false},"excerpt":{"rendered":" Even ahead of F1’s Singapore floatation, the sport has some new owners. Reuters, the specialist financial market news agency, said US-based asset managers Waddell and Reed, Blackrock and Norway’s Norges Bank have bought a $1.6 billion stake from existing owners CVC. The report cited a source “with direct knowledge of the matter”.\u00a0 The companies did …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0},"categories":[3],"tags":[2637,5262,5340,3755,3756],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/posts\/16034"}],"collection":[{"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/comments?post=16034"}],"version-history":[{"count":1,"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/posts\/16034\/revisions"}],"predecessor-version":[{"id":16035,"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/posts\/16034\/revisions\/16035"}],"wp:attachment":[{"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/media?parent=16034"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/categories?post=16034"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/tags?post=16034"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}