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Liberty Media raises £1.2bn to support F1 takeover
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Liberty Media has announced that it has reached agreements with third-party investors to raise $1.55 billion (£1.22bn) in connection with its purchase of Formula 1. Liberty currently has a 18.7% percent minority stake and is in the process of a takeover of the sport, which was announced last September is expected to be completed in the first quarter of 2017. The third-party investors - which are Coatue Management, L.L.C., the D. E. Shaw group, JANA Partners LLC, Ruane, Cunniff & Goldfarb Inc., Soroban Capital Partners LP, SPO Advisory Corp., and Viking Global Investors LP - have committed to the £1.22bn thanks to “subscriptions for newly issued shares of its...
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