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Formula 1 owner sells stake for £1 billion

Discussion in 'Formula 1' started by Scott Webber, May 22, 2012.

  1. Scott Webber

    Scott Webber

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    CVC Capital Partners, the majority owners of Formula 1, have sold a 20 per cent stake ahead of the sports Singapore stock market flotation.
    [​IMG]

    The 20 per cent, which has reduced CVC's shareholding to around 40 per cent, raised £1 billion ($1.6bn), around half of the total £1.9 billion ($3bn) IPO which is set to go ahead within the next few weeks.
    Reuters reports that BlackRock, an American multinational investment corporation and currently the world's largest asset manager, is amongst the three buyers, with Waddell & Reed and Norges Bank Investment Management the other two.

    The deal puts the total value of F1 at around £5.8 billion ($9.1bn).

    source
     
  2. Ole Marius Myrvold

    Ole Marius Myrvold
    JWB 96-13 Staff

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    "Norges Bank Investment Management"
    That is what we in Norway calls "oljefondet". Which is where the money Norway earns from the oil production ends up. Those money gets invested in many parts of the world, to try to get even more money out of it.
     
  3. Bram Hengeveld

    Bram Hengeveld
    Administrator Staff Premium

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    Can you imagine that Formula Facebook is worth more? I can't!
     
  4. Hampus Andersson

    Hampus Andersson

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    Didn´t Sweden (my country) turn down an offer from Norway to be involved with it?
    I think it was something along those lines..
     
  5. Hampus Andersson

    Hampus Andersson

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    Facebook won´t be for long though, i hope none of you guys bought any.

    Zuckerberg already lost 2 billion dollars in three days :)
    Down almost 10%.
     
  6. Ole Marius Myrvold

    Ole Marius Myrvold
    JWB 96-13 Staff

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    No idea tbh. I'm just fed up with "Norway" buying stocks everywhere instead of using it on infrastructure in Norway...
     
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  7. Bram Hengeveld

    Bram Hengeveld
    Administrator Staff Premium

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    That better than what our government does. We spent all our billions on pumping Euro's to Greece :(
     
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  8. Ivan Navarro

    Ivan Navarro

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    That's not how it works. His company got the full amount of the initial evaluation, $38/share. It's the people who bought the stock that lost the $2B!!!

    Zuckerberg and company still made a fortune!
     
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  9. Thomas Dougherty

    Thomas Dougherty

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    I hope those American investors can work to market Formula 1 here in the states. Even though Formula 1 has managed to trend on twitter in America, I don't think it has an established market yet. I hope those investors, instead of having it as a little toy, can build it up in the US.
    Possibly even find sponsorship or sponsor races themselves. Maybe even back young American drivers.
     
  10. Hampus Andersson

    Hampus Andersson

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    Initially yes he made a fortune, then the value of the stock dropped 10%,
    Zuckerberg has stocks himself so he lost 10% as well.
     
  11. glight

    glight

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    Like this if you're glad you didn't buy any Facebook stock!

    OnTopic: wonder why CVC gave away their control, wouldn't they want to keep 51% share? Or are they broke and need the cash?
     
  12. Ivan Navarro

    Ivan Navarro

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    Well, yes. But he had made like 10,000% and now only 9,990%! :p

    Protecting their downside? Maybe.
     
  13. Hampus Andersson

    Hampus Andersson

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    Right now yes, but what happens when it falls? :)
     
  14. Ivan Navarro

    Ivan Navarro

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    Good question. That's why I don't own FB! :whistling:

    As for MZ, his shares cost him like $1 each! If it fails, he's already cashed in. :geek: