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CVC gives itself clean bill of health in F1 review

The private equity firm's internal review into its purchase of Formula One has found no evidence of wrongdoing

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.

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