According to reports, Delta Topco issued 90.7 million new shares in 2008, bringing its total shares to one billion. Sorrell and Brabeck are now believed to have a 0.3% stake in the company.
As private equity firm CVC bought Formula One for $2bn in 2006, Sorrell's stake is reported to be worth $6m. Sorrell and Brabeck, non-executive directors of Formula One, are said to have bought their shares for a "nominal price" of $27,000.
WPP declined to comment.
Agency
Maisie McCabe, mediaweek.co.uk, 12 February 2009, 4:10pm
Sorrell takes stake in Formula One parent company
LONDON - Sir Martin Sorrell, chief executive of ad giant WPP, and Peter Brabeck, chief executive of Nestlé, have taken a stake in the holding company of Formula One, Delta Topco.
Sir Martin Sorell: has invested in Formula One holding company Delta Topco
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