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BRIEF-Liberty Media Corp to acquire Formula One

Sept 7 (Reuters) - Liberty Media Corp * Liberty Media Corp agrees to acquire Formula One * Agreed to acquire Formula One from a consortium of sellers led by CVC capital partners * Transaction price represents enterprise value for Formula One of $8.0 billion * Chase Carey appointed as chairman; Bernie Ecclestone to remain CEO * Initial sale of 18.7 percent minority stake in Formula One, with 100 percent sale subject to satisfaction of conditions * Acquisition will be effected by liberty media acquiring 100 percent of shares of Delta Topco, parent company of Formula One * Transaction price represents an equity value of $4.4 billion * Liberty Media Corp says Bernie Ecclestone will remain formula one's CEO * Prior to completion, CVC funds will continue to be controlling shareholder of Formula One * Upon completion of acquisition, Liberty Media Group will be renamed Formula One Group * Formula One will remain based in London * Liberty Media Corp says funding for cash component of acquisition is expected to come from cash on hand at Liberty Media Group * Ticker symbols for series A, series B and series C Liberty Media Group tracking stocks will be changed from LMC (A/B/K) respectively * Selling stockholders will get $1.1 billion in cash, 138 million newly issued shares of LMCK and a $351 million exchangeable debt instrument Source text for Eikon: Further company coverage: