UBS joins Goldman in role for Formula One IPO: sources
SINGAPORE (Reuters) - Private equity firm CVC Capital Partners has hired UBS (UBSN.VX) and Goldman Sachs (GS.N) as joint global coordinators and bookrunners for Formula One's roughly $2 billion initial public offering in Singapore expected in July, sources with direct knowledge of the deal said on Monday.
Goldman's role in the deal was expected, given the bank's early work on the process, while for UBS, the top status on the IPO is a major boost for its Southeast Asia operation.
Several top investment banks are competing for a role in the offering, both for prestige in being part of such a high profile transaction, and for the tens of millions of dollars in fees the deal will produce.
Like any major stock offering in its early stages, the final list of banks involved has yet to be determined. CVC, Goldman Sachs and UBS declined to comment.
- Obama condemns killing of reporter, U.S. hits militants in Iraq |
- Gaza war rages on, Hamas says Israel tried to kill its military chief |
- Four beheaded corpses found in Egypt's Sinai: security sources
- Father of Texas 'affluenza' teen arrested for impersonating police officer
- Islamic State opens new anti-U.S. front with beheading video