F1: Liberty Media secures anti-trust approval
Liberty Media reports that it has cleared another hurdle in the process of its takeover of a majority shareholding in Formula 1.
announced earlier this week that it it had raised $1.55 billion from investors
to purchase the majority of shares from CVC Capital Partners. However, the deal still required approval from anti-trust regulatory bodies, which Liberty says has now been secured."Liberty Media Corporation... has received all required approvals from all appropriate anti-trust authorities in connection with its pending acquisition of Formula 1," the company said in a statement. "Closing of the acquisition remains conditioned upon approval by Liberty Media's stockholders of the issuance of LMCK shares in connection with the acquisition at a special meeting scheduled for Jan. 17, 2017 and approval from the Fédération Internationale de l'Automobile, the governing body of Formula 1. The acquisition is still expected to close before the end of the first quarter in 2017."
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