Lloyds Bank private equity arm in the frame for Silverstone stake
THE HOME of British motor racing Silverstone is nearing a landmark deal that could herald Lloyds Banking Group’s private equity arm investing in the legendary site.
Silverstone Circuits, which promotes events at the Formula One and Moto GP racetrack, is understood to be in talks with Lloyds private equity arm LDC to take an investment to help management buy out part of the company.
The news, first reported by Sky News, follows months of negotiations with potential investors in the business.
The British Racing Drivers’ Club, which is responsible for the site, has been seeking investors to help develop it for several months.
“BRDC can confirm that it remains in discussion with parties interested in investing in Silverstone,” it said in a statement. Those discussions continue to progress well.”
It is thought a deal would take a two prong approach, with an investor backing a management buyout of Silverstone Circuits and another taking a stake in the land itself. It was previously reported that MEPC will acquire the development land for about £40m.
LDC declined to comment.