Financial Times FT.com

Sorrell drives F1 shake-up

By Christian Sylt and Caroline Reid

Published: February 11 2009 19:48 | Last updated: February 11 2009 19:48

Sir Martin Sorrell and Peter Brabeck, the chief executives of WPP and Nestlé, have taken shares in Formula One’s holding company as part of a shake-up in the motor sport’s ownership.

Documents filed at the end of January show that Jersey-based Delta Topco issued 90.7m new shares in 2008 taking its total to one billion. Mr Sorrell’s and Mr Brabeck’s stakes were each bought for a nominal price of $27,000 and represent 0.3 per cent of the total shares issued.

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