Deals
Ecclestone Bribery Case Seen Disrupting CVC Plan for Sale of F1
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CVC Capital Partners Ltd.’s plan to hold an initial public offering of Formula One may be hurt by a bribery investigation involving the auto-racing series’ boss Bernie Ecclestone.
Ecclestone will be charged by prosecutors in Germany for his part in Bayerische Landesbank’s 2005 sale of the sport to CVC, German news magazine Der Spiegel reported May 13. The chief executive officer’s lawyers Sven Thomas and Norbert Scharf said May 15 they haven’t received the indictment, which Der Spiegel said is being translated into English.