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BRIEF-Liberty Media to invest $1.55 bln with third party investors for Formula 1 acquisition
December 14, 2016 / 1:48 PM / in 10 months

BRIEF-Liberty Media to invest $1.55 bln with third party investors for Formula 1 acquisition

Dec 14 (Reuters) - Liberty Media Corp

* Liberty Media Corporation announces agreements with third party investors to invest $1.55 billion to support Formula 1 acquisition

* Liberty Media - following completion of deal, share issuance, third party investors will own approximately 26 percent of Formula One Group’s equity

* Liberty Media -proceeds from $1.55 billion investment to be used to increase cash portion of consideration payable to consortium of selling formula 1 shareholders

* In addition, a CVC representative will be joining liberty media board of directors

* Liberty Media Corp - acquisition is expected to close before end of Q1 in 2017

* Liberty Media - Liberty Media Group will be renamed Formula One Group, ticker symbols for series A,B, C Liberty Media common stocks will be changed

* Liberty Media - issuance of shares of LMCK to third party investors will be consummated concurrently with completion of Formula 1 acquisition

* Liberty Media - third parties include Coatue Management L.L.C., D. E. Shaw Group, Jana Partners LLC

* Liberty Media - third parties include Ruane, Cunniff & Goldfarb Inc., Soroban Capital Partners LP, Spo Advisory Corp., and Viking Global Investors LP Source text for Eikon: Further company coverage:

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