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GPMA responds to EU decision

NEWS STORY
21/03/2006

In response to the European Commission's decision regarding the buy-out of F1 by CVC Capital Partners, the Grand Prix Manufacturers' Association has issued the following statement:

"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. 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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