Deals Rumor Mill: Formula One, BP, JC Flower & Co.

By Benjamin Horney (August 9, 2016, 5:33 PM EDT) -- CVC Capital Partners could look to sell its 35.5 percent stake in Formula One within the next few weeks, Bloomberg reported on Tuesday, with likely suitors including Sky PLC, the Qatar Investment Authority and RSE Ventures, which is a sports and entertainment venture capital firm founded by Miami Dolphins owner Stephen M. Ross. According to the report, CVC has hired Goldman Sachs Group Inc. to assist as it tries to woo buyers, and the stake could sell for as much as $10 billion, which would be around eight times the amount of money the private equity firm paid for the stake in 2006. CVC has been mulling whether or not to sell the stake for the better part of a year now, according to previous reports. ...

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