Bernie Ecclestone Sells-up

Motor racings Bernie Ecclestone and Bayern LB have sold their shares in the Formula One Group for an unknown amount.
But Mr Ecclestone will hold onto the chief executive post at Formula One Group as well as retaining an unspecified stake in the business.

The deal gives a 75% controling share to private equity group CVC Capital Partners.
This also ends months of squabbling over the control of F1 racing.

Last year the JP Morgan, Lehman Brothers and BayernLB began legal action to have a greater say in the running of the sport.
The three banks alleged they had been unfairly deprived of the right to appoint directors to reflect their shareholding.

They claimed that despite owning a large percentage of the company between them they were still classed as minority shareholders.
The matter was settled out of court in March.