U.S. company is considering taking over the Formula 1
Formula 1 is majority owned by investment company CVC Capital Partners. Supposedly in early 2011 a strategic evaluation of formula-one was done, including the possibilities of an IPO or sale. In April, the media group News Corporation announced its interest in taking over formula 1 and the Mubadala Development Company, a sovereign wealth funds from Abu Dhabi explores, allegedly also made overtures.
Hellman & Friedman has investments in various companies, including the photo agency Getty Images, the Securitas Direct alarm system manufacturers and the research firm Nielsen. In February 2000, Hellman & Friedman took over 37.5 percent of the Formula 1 holding company SLEC for an estimated 712.5 million U.S. dollars and three months later it earned $ 630 million profit when the shares were sold to EM.TV, the predecessor company by Constantin media.
Hellman & Friedman reviewed Formula-1 finance in 2009. According to Ecclestone, "they drive around and talk to people. They buy anything." However, he notes that CVC board member Donald Mackenzie "never talked to them," but has, so one must take what Ecclestone says with a grain of salt. Hellman & Friedman refused to comment on this story.