HONG KONG (Reuters) - Private equity firm CVC Capital Partners will cut its ownership stake to about 30 percent in the Formula One motor racing business after the company's up to $3 billion IPO by selling shares on the public market, sources said on Thursday.
CVC currently holds about 42 percent of Formula One after it recently sold a $1.6 billion stake to a group of investors, including the investment management firm BlackRock.
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