Private equity firm CVC Capital Partners has given itself a clean bill of health following an internal review into its $1.7bn purchase of a controlling stake in Formula One motor racing in 2005 as German state prosecutors widen their probe into alleged irregularities.
The firm hired financial adviser Ernst & Young and legal firm Freshfields Bruckhaus Deringer to conduct a review of its purchase in February in light of an ongoing investigation by German prosecutors into the sale.