Formula One Said to Add Banks for $3 Billion Singapore IPO

CVC Capital Partners Ltd. added Morgan Stanley and UBS AG to help with the initial public offering of Formula One, which could raise as much as $3 billion in Singapore, said two people with knowledge of the matter.

The two banks join Goldman Sachs Group Inc., hired earlier for the stock sale, as lead managers for the IPO, said the people, who declined to be identified because the process is private. DBS Group Holdings Ltd., CIMB Group Holdings Bhd and Banco Santander SA have also been retained to help manage the IPO, the people said.