F1 Owner CVC Capital Co-Founder Mackenzie Says IPO May Be Put On Hold Until Next Year
One of the men behind the proposed flotation of F1 on the Singapore Stock Exchange "has revealed the plans may again be put on hold until next year," according to the PA. CVC Capital Partners co-Founder & co-Chair Donald Mackenzie has now suggested that "the IPO may yet be delayed further." Mackenzie said, "Our position on the IPO is when the market is right and the company is ready we'll look at it. Although the IPO market is better than it was a year ago, the company still has a few issues to sort out." The IPO would appear to suggest CVC "will end its involvement in the sport for good, but not so according to Mackenzie." He said, "We'd like to retain a stake in the business. We like being a shareholder, even though we get a bit of grief every so often from people who don't really know what they're talking about in my opinion" (PA, 5/30).