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Liberty Media offers shares to F1 teams
Prospective Formula 1 owners Liberty Media will offer shares in the sport to teams, the company announced in a statement on Thursday. Liberty Media is poised to acquire 100 per cent of Formula 1, having received approval from its own stakeholders and the FIA, with the sale set to be completed before the end of January. “Liberty Media announced today [Thursday] that it intends to issue cash convertible senior notes in a private offering,” read a statement. “The notes will be convertible into cash in an amount determined by reference to the trading price of shares of Series C Liberty Media common stock ('LMCK'). “Liberty expects to use the net proceeds of the offering...
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8y ago from MotorsportWeek.com
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