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Liberty Media raises $1.55bn to support Formula 1 takeover
Liberty Media has announced that it has come to an agreement with various third-party investors to raise $1.55 billion (£1.22bn) in funding to support its purchase of Formula 1. The American media conglomerate has already paid just under $1bn for an 18.7 per cent stake in F1's parent company Delta Topco this September and is looking to acquire the remaining 81.3 per cent to give it a majority shareholding in the sport. It's expected a deal to acquire the remainder of Delta Topco will be completed in the first quarter of 2017 – pending a shareholder vote in January – and this latest round of investment from a number of third-party investors has boosted Liberty...
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9y ago from GrandPrixTimes.com
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