Goldman Sachs might refer to clients as muppets, but the bank is still being hired for the top jobs.
CVC Capital Partners has asked the powerful investment bank to explore a possible sale of its stake in Formula One in an initial public offering, reports Bloomberg today.
The private-equity house took majority control of Formula One in March 2006 and it could be valued at around $10 billion (£6.3 billion).
F1 has annual sales of €1.17 billion (£973 million) and employs 200 people.
Singapore is mooted as a possible listing venue. It is vying with Hong Kong to attract companies from across the world seeking to capitalise on Asia’s growing economies. F1 boss Bernie Ecclestone has said that the private-equity firm would be better off exiting the business via an IPO rather than selling it.
Ecclestone said the race should seek a listing in Singapore because of Asia’s interest in the sport. The Singapore exchange declined to confirm media reports that Formula One is considering an IPO in Singapore.
A spokesperson for SGX said: “It is not our practice to publicly comment on our dealings with individual entities.”
