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FORMULA ONE

Caparo T1

Formula One Teams Burn up $300 Million of Debt, 64.2% from Lotus

The ten teams in Formula One auto racing are under a total debt of $318.2 million, and 64.2% of that belongs to Lotus. Lotus belongs to Genii Capital, a private equity firm founded by Skype investor Gerard Lopez. Creditors have been going after Lotus for the last several months. Its cars were almost impounded during the Belgian Grand Prix last weekend after former reserve driver Charles Pic filed a legal dispute.

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Austrian F1 Grand Prix

CVC say they are under no pressure to sell F1

Formula One's commercial rights holders CVC Capital Partners are under no pressure to sell their controlling stake in the sport and want to keep it, co-chairman Donald Mackenzie told Reuters on Saturday.

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Ferrari Formula One

Racing team success could be winning formula for Ferrari IPO

Ferrari's timely return to the front row of the Formula One grid bodes well for the luxury sportscar maker as it prepares to list shares and split from parent Fiat Chrysler Automobiles. (FCHA.MI) (FCAU.N)

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Formula E

Miami hosts first Formula E electric car race in U.S

Thousands of fans turned out on Saturday for the first Formula E electric car race in the United States, with organizers saying the event along downtown Miami's bayfront would help boost more energy efficient mainstream automobile technology.

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Ferrari

Fiat Chrysler to spin off Ferrari, issue $2.5 billion convertible bond

Fiat Chrysler Automobiles (FCA) (FCAU.N) said on Wednesday it will spin off its luxury sports car maker Ferrari and list the shares as part of a bigger scheme which includes a $2.5 billion convertible bond issue to help fund its ambitious business plan.

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Singapore F1 Grand Prix

For Singapore, F1 race gets tourism back on track

Singapore will be counting on its marquee Formula One race to help make up for a 30 percent drop in Chinese tourists this year.

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Formula One

Mercedes welcome Ecclestone trial settlement

Formula One needs a strong leader and Bernie Ecclestone's $100 million court settlement to end a bribery trial in Germany is positive for the sport's future, Mercedes motorsport head Toto Wolff said on Saturday.

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Formula One

Formula One and FIA sign framework for new Concorde Agreement

The Formula One Group and the FIA signed the framework for the 2013 Concorde Agreement.

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Red Bull Formula One driver Sebastian Vettel of Germany (2nd R) leads the pack at the start of the Bahrain F1 Grand Prix at Sakhir circuit in Manama March 14, 2010.  REUTERS/Caren Firouz (BAHRAIN - Tags: SPORT MOTOR RACING)

Stake sales have slowed Formula One IPO drive

Stake sales have slowed Formula One IPO drive.

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Asia Private Equity Weekly News, June 25, 2012

News and developments in Asia private equity from Reuters News for the week ending June 22.

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Red Bull Formula One driver Sebastian Vettel of Germany (2nd R) leads the pack at the start of the Bahrain F1 Grand Prix at Sakhir circuit in Manama March 14, 2010.  REUTERS/Caren Firouz (BAHRAIN - Tags: SPORT MOTOR RACING)

Exor decided Formula One investment too pricey

Fiat and Ferrari's corporate parent Exor opted to pass because the price was too high.

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Red Bull Formula One driver Sebastian Vettel of Germany (2nd R) leads the pack at the start of the Bahrain F1 Grand Prix at Sakhir circuit in Manama March 14, 2010.  REUTERS/Caren Firouz (BAHRAIN - Tags: SPORT MOTOR RACING)

CVC to further cut Formula One stake after IPO: sources

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Red Bull Formula One driver Sebastian Vettel of Germany (2nd R) leads the pack at the start of the Bahrain F1 Grand Prix at Sakhir circuit in Manama March 14, 2010.  REUTERS/Caren Firouz (BAHRAIN - Tags: SPORT MOTOR RACING)

Blackrock, others buy $1.6 billion stake in F1: sources

Private equity firm CVC Capital CVC.UL has sold a $1.6 billion stake in Formula One to three investors.

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Red Bull Formula One driver Sebastian Vettel of Germany (2nd R) leads the pack at the start of the Bahrain F1 Grand Prix at Sakhir circuit in Manama March 14, 2010.  REUTERS/Caren Firouz (BAHRAIN - Tags: SPORT MOTOR RACING)

Formula One to start pre-marketing $3 bln Singapore IPO-source

Motor racing business Formula One will start pre-marketing for its up to $3 billion Singapore initial public offering on May 22.

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Asia Private Equity Weekly News, May 14, 2012

News and developments in Asia private equity from Reuters News for the week ending May 11.

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