CVC Capital Partners, the venture fund that controls Formula 1's commercial rights, manages a diverse portfolio of global entities, including blue-chip companies operating in postal/communications, transport, hospitality, chemical and utilities sectors.
One of the companies it acquired and restructured before listing in Asia - much as CVC (twice) intended for F1, using a virtually identical model - is Samsonite, the luggage manufacturer.
Imagine that during CVC's watch a variety of regulatory, commercial and environmental concerns, plus plummeting market acceptance, forced not only the company but also the entire baggage industry to totally revamp its products through the introduction of environmentally friendly hi-tech materials and processes. Four years' notice is granted, albeit with an already extended deadline of March 15, 2014.
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South African-born Dieter trained as industrial engineer before holding down a variety of senior motor industry marketing and manufacturing positions. At the age of 40 he decided to follow his passion, and became the first and only South African journalist to cover Formula 1 regularly. Dieter joined AtlasF1 at the beginning of 2004 – a year prior to its merger with Autosport – and his regular column offers an intriguing analysis of F1’s politicking and commercial chicanery. Although now also proudly Belgian, he gives his domicile as "Wherever F1 duplicity lurks".@RacingLines More features by Dieter Rencken