CVC Adds Morgan Stanley, UBS As Bankers On Over US$2.5 Billion Formula One Singapore IPO - Sources
April 24 2012 - 10:28PM
Dow Jones News
CVC Capital Partners has added UBS AG (UBS) and Morgan Stanley
(MS) as additional banks to manage a planned initial public
offering in Singapore of more than US$2.5 billion in the Formula
One Group motorsport franchise, people familiar with the
transaction said Wednesday.
UBS and Morgan Stanley will be joining Goldman Sachs Group Inc
(GS) as joint global co-ordinators on the IPO, slated for the
second quarter this year, the people said. Singapore's DBS Group
Holdings Ltd. (D05.SG), Malaysia's CIMB Group Holdings Bhd
(1023.KU), and Spain's Banco Santander S.A. (STD) will also be on
the IPO, as joint bookrunners, one of the people said.
The IPO, if successful, will be the largest IPO in Singapore so
far this year, and comes at a time when companies are looking to
tap the equities market as the global economy looks to be on a
recovery path.
CVC has owned 63% of SLEC Holdings, Formula One's holding
company, since 2006. The private equity firm wasn't immediately
available for comment.
-By P.R. Venkat, Dow Jones Newswires; +65-6415-4157;
venkat.pr@dowjones.com