Formula One shareholder CVC says floatation plans on hold — Reuters

Leading Formula One shareholder CVC said its plans to float the motor sport business on the stock market remained on hold but it was still a goal of the private equity fund.

“One day we’d like to float the company,” CVC co-chairman Donald Mackenzie told reporters on Tuesday.

“We’ve got no plans to do that in the imminent future,” he added.

CVC is the largest shareholder in Formula One, with a 35.5 percent stake having sold down its stake from 63 percent last year. Mackenzie was speaking to reporters after giving evidence in a high court damages case involving F1 Chief Executive Bernie Ecclestone.