ECCLESTONE SELLS SLEC HOLDINGS STAKE TO U.S. GROUP FOR $712M

          Formula One CEO Bernie Ecclestone has sold a 37.5%
     stake in his F-1 holding company, SLEC Holdings to S.F.-
     based private equity firm Hellman & Friedman (H&F), for
     $712M, according to Patrick Harverson of the FINANCIAL
     TIMES.  The deal values Ecclestone's F-1 business at $1.9B. 
     H&F will gain two seats on the board and "help steer the
     company to a flotation."  H&F is "also keen to advise"
     Ecclestone on how to "exploit" F-1's commercial potential on
     the Internet.  H&F Managing Dir Patrick Healy said that his
     firm would help F-1 develop a new Internet strategy over the
     next 12 months.  H&F got the chance to acquire a stake in F-
     1 after Morgan Grenfell Private Equity declined to take up
     its option to increase its stake in SLEC Holdings, following
     its $275M purchase of 12.5% last year (FINAN. TIMES, 2/22).