Swiss Private Bank Julius Baer Secures 4.1% In Electric Racing Series Formula E

Formula E "has been revved up by new investment from Swiss private bank Julius Baer," which has taken a 4.1% stake in the electric racing series, according to Sylt & Reid for the London DAILY EXPRESS. Julius Baer, "the private bank of the rich and famous, bought its stake earlier this year, according to the latest shareholders’ register of Formula E Holdings." The bank "was one of the first sponsors of Formula E when it launched" in '14 and its third season kicked off on Sunday in Hong Kong. Aside from Julius Baer, the other new investors in Formula E "include New-Wave, which is the ultimate parent of Weibo, China’s answer to Twitter." New-Wave took a 1.6% stake in FEH during the first quarter. The "biggest shareholder is Liberty Global, the owner of TV network Virgin Media and a shareholder in ITV," with 24.5% (DAILY EXPRESS, 10/9).