CVC has announced that Alpha Prema UK Limited (Alpha Prema) has now completed its acquisition of the Formula One Group.

Alpha Prema is the newly incorporated company through which funds managed or advised by CVC Capital Partners Group (CVC) are making their investment in Formula One.

Donald Mackenzie, from CVC, commented: "We are pleased that we have now completed our investment in Formula One, and look forward to working with Bernie Ecclestone and his team to further develop and grow the business."

The news comes on the same day as the GPMA revealed that BMW Sauber, Honda Racing F1, McLaren Mercedes, Renault and Toyota, had submitted their entry forms for the 2008 FIA Formula One World Championship.

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CVC completes F1 purchase

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