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CVC Sells F1 Stake to Waddell & Reed for $500 Million

CVC Capital Partners Inc., a part-owner of Formula One, sold $500 million of shares in the auto-racing series to U.S. asset manager Waddell & Reed Financial Inc. (WDR), Bloomberg News reported Saturday. The sale values Formula One at $9.1 billion and boosts Waddell & Reed's holding to 20.9%, CVC said, according to Bloomberg. Waddell & Reed, BlackRock Inc. (BLK) and Norges Bank Investment Management paid CVC $1.6 billion for 21% of the company in an earlier deal announced May 22, Bloomberg reported. Full story at http://www.bloomberg.com/news/2012-06-16/cvc-sells-500-million-stake-in-formula-one-to-waddell-reed.html Write to nymonitoring@dowjones.com

Stock News for Blackrock (BLK)
DateTimeHeadline
03/27/201508:01:39Don't Let Low Dividend Yields Keep You From Investing In These...
03/26/201518:15:00BlackRock, First Reserve to Acquire Equity Stakes in PEMEXâs L...
03/26/201517:58:34BlackRock, First Reserve take $900M stake in Mexico pipeline...
03/24/201508:30:00BlackRock Launches iShares Exponential Technologies ETF
03/23/201500:30:42Ocwen Responds to Mortgage-Investor Criticism
03/20/201508:16:54BlackRock Hit With Record Fine By German Regulator BaFin
03/20/201508:05:53BlackRock hit with fine by German regulator
03/19/201516:15:00iShares Announces Changes to the Valuation of Assets of the iShares...
03/19/201508:00:00New Research from Fidelity® and BlackRock Reveals a Key to Growth...
03/18/201514:21:43Investors Raise Alarm Over Liquidity Shortage
03/17/201507:45:16BlackRock finds another sell-side fan
03/15/201501:53:52Shocked And Surprised Is No Way To Manage Money
03/12/201508:30:00BlackRock Expands Suite of iShares® iBonds® Term Maturity ETFs
03/10/201507:38:36There's an ETF price war in the U.K. too
03/09/201519:56:28GM Strikes Buyback Amid Tussle Over Best Use of Cash
03/09/201511:00:48Kaisa Debt Terms May Spark Fight With Offshore Creditors
03/09/201508:21:21Kaisa Debt Terms May Spark Fight With Offshore Creditors
03/05/201509:23:00BlackRock Global Investor Pulse Survey: American Women Face Saving...
03/05/201508:30:00BlackRock Launches iShares Short Maturity Municipal Bond ETF
03/03/201517:24:30Statement of Changes in Beneficial Ownership (4)

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