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. Last Updated: 07/27/2016

F1 to Be Floated

LONDON -- Deutsche Bank's Morgan Grenfell Private Equity unit said Tuesday it had agreed to acquire up to 50 percent of motor racing boss Bernie Ecclestone's motor racing company Formula One Holdings.

Morgan Grenfell said in a statement that it planned to invite other investors into the deal and said it had agreed on a strategy with Ecclestone, chief executive of Formula One Holdings, that will eventually lead to a flotation.

Ecclestone has in the past planned a flotation of Formula One, which sells the broadcasting rights to Grand Prix races, but these plans stalled in the face of a European Commission inquiry into the sport and its television deals.