The private equity firm CVC Capital has sold a $2.1 billion stake in Formula One to three investors ahead of the motor racing company's planned $3.9 billion initial public offering in Singapore.
The deal sets a benchmark valuation of at least $9.2 billion for the company.
The shares are expected to debut next month in the long-awaited public flotation of a franchise led by the octogenarian billionaire Bernie Ecclestone.