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China Media Capital set to buyout F1 for $8.5bn
China Media Capital set to buyout F1 for $8.5bn According to a Sky News report on Friday, China Media Capital (CMC) is leading a group of Chinese firms to back a $8.5bn takeover bid for Formula 1 within the next 90 days. The bidders are one of China's most largest investment firms, willing to invest roughly $1.5 billion in the offer being assembled by Stephen Ross, owner of the Miami Dolphins, a professional American football team, reported Xinhua citing Sky News. The proposed takeover of F1, which remains far from certain to take place, still requires roughly $2 billion in additional equity from other investors. CVC, F1's majority shareholder since 2005 are set to respond to the...
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10y ago from ThisIsF1.com
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