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Liberty Media agrees $1.55bn investor deal
– Liberty Media has announced that it has reached an agreement with third-party investors to raise $1.55bn in connection with its planned purchase of Formula 1.American entertainment company Liberty set out its intention to purchase Formula 1 back in September, in a deal which will cost $8 billion in total.It initially took on an 18.7 per cent stake, in a $746 million cash deal, and ultimately intends to acquire 100 per cent of Delta Topco's shares, the parent company of Formula 1.Third-party investors are Coatue Management, the Shaw group, JANA Partners, Ruane, Cunniff & Goldfarb, Soroban Capital Partners, SPO Advisory, and Viking Global Investors.F1 Chairman Chase Carey said:...
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9y ago from GPUpdate.net
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