Sep.16 (GMM) CVC Capital Partners is very likely to buy the 16.8 per cent share of F1's commercial rights owned by the failed investment bank Lehman Brothers.
New York based Lehman Brothers announced on Monday it has filed for bankruptcy.
Private equity firm CVC, as F1's majority owner, has first refusal on buying Lehman Brothers' stake from the administrators, the British newspaper The Telegraph reports.
"In reality, we are the only buyer," said Nick Clarry, CVC's UK managing director. "We have made an offer to buy Lehman's shares in the past and may do so again."
CVC currently owns about 70 per cent of The Formula One Group.
Written: Wed, 17 Sep 2008 16:52:13
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