News Details
Company files $650-million lawsuit against Ecclestone
Nov.20 (GMM & Apex) Bloomberg reports that Bluewaters Communications Holdings LLC has sued Formula One chief Bernard Ecclestone and CVC Capital Partners Ltd. over the sale of a stake in F1 for $650 million, saying it was the “high bidder” for the racing company, which it values at $10 billion.
It is claimed CVC, F1′s current owner, was the lower but successful bidder because of F1 chief executive Ecclestone's alleged bribes to the now-jailed former banker Gerhard Gribkowsky.
Gribkowsky, CVC and the German bank BayernLB were all named as defendants in the New York suit, the Financial Times, Bloomberg and cityam.com report.
Bluewaters claims it offered in writing to pay 10 per...
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13y ago from YallaF1.com
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