CVC sells Formula 1 stake for $1.6 billion

  • Formula 1's largest shareholder, CVC Capital, has sold its 21 percent stake for an estimated $1.6 billion.

    The sale reduces its holding to 42 percent.

    F1 may float on the Singapore Stock Exchange next month and the CVC sale values it at about $7.8 billion.

    Formula 1's revenues are expected to reach $1.9 billion this year on the back of fees paid by circuits to host races, TV income and corporate hospitality.