GPMA welcomes CVC deal clearance
The Grand Prix Manufacturers' Association (GPMA) has welcomed the EU clearance for investment company CVC Capital Partners' takeover of shares in Formula One
The green light for the move, conditional on CVC ending its involvement in MotoGP, has been viewed by many as key to a deal between the GPMA and Formula One's bosses to secure the future of the sport happening in the near future.
And in a statement issued by the GPMA on Tuesday, the group said it was hopeful that there was enough momentum now for a deal to be sorted out imminently.
"The GPMA manufacturers and their teams welcome and support the EU clearance of the planned acquisition of SLEC by CVC, conditional upon the divestiture of its subsidiary Dorna," said the statement.
"Since CVC announced its intention to acquire SLEC, significant progress in the discussions about the commercial future of Formula One has been made.
"Today's approval was actively supported by the GPMA manufacturers and teams and they are optimistic that it will create additional momentum for the ongoing negotiations."
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