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Liberty Media sets out F1 growth plans
– Liberty Media has outlined the key areas of growth it will focus on "for benefit of all stakeholders" following confirmation of its Formula 1 takeover in a deal valuing the sport at $8 billion.On Wednesday evening, Liberty Media confirmed that it had purchased an 18.7 per cent stake, and will go on to acquire 100 per cent of Delta Topco's shares, the parent company of Formula 1.Liberty Media will invest $4.4billion equity and also assume $4.1 billion of existing Formula 1 debt in the deal, which is due to close in early 2017, and total an enterprise value of $8 billion.Liberty Media, owned by John Malone, has installed Chase Carey, the Vice-Chairman of 21st Century Fox,...
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8y ago from GPUpdate.net
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