
By Saeed Azhar and Keith Weir SINGAPORE/LONDON | Tue May 22, 2012 5:23pm BST SINGAPORE/LONDON (Reuters) - Three investment groups have bought a 21 percent stake in Formula One from private equity firm CVC Capital CVC.UL for $1.6 billion ahead of the motor racing company's planned flotation in Singapore. The deal sets a benchmark valuation of at least $7.6 billion for the company as financial advisers begin to target cornerstone and retail investors during the pre-marketing process of the IPO. The shares are expected to debut in June.The three investors are U.S. groups Waddell & Reed (WDR.N) and BlackRock (BLK.N), along with Norway's Norges Bank Investment Management, the asset management unit of the Norwegian central bank, CVC said in a statement on Tuesday, confirming earlier ...
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