Friday, November 25, 2005

Formula One has been sold to CVC Capital Partners

Bernie Ecclestone confirms that the majority share in Formula One has been sold to CVC Capital Partners. Ecclestone will remain as CEO of the F1 company.
CVC Capital Partners is a European private equity firm. CVC was founded in 1981 as the European private equity arm of Citigroup, but after a buyout in 1993 it is owned by its management.