Temasek courted to buy into F1

In the wake of reports that Formula 1's chief executive Bernie Ecclestone is eyeing to launch a US$10 billion (S$12.6 billion) initial public offering (IPO) of the sport in Singapore, it has emerged that the city-state's Government-owned Temasek Holdings has been approached to take a minority stake in the company.

Formula 1's top brass are in the region, ahead of the Malaysian Grand Prix this weekend, days after attending the season-opener in Melbourne.

CVC Capital Partners, Formula 1's current owners, which bought F1 in 2005, is understood to value its commercial rights at least US$10 billion, but Temasek's appetite for investing in F1 is unclear.

Temasek Holdings was among those approached last year to buy shares in Manchester United as the English Premier League club's owners examined the viability of an Asian listing.

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