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CVC Capital Partners Ltd. said it planned to keep Bernie Ecclestone, the longtime commercial head of Formula One, as chief executive. Ecclestone, a 75-year-old billionaire, has been with Formula One for 26 years.
"We are delighted to have CVC as a shareholder whose long-term strategies and vision will provide the stability for teams, promoters and manufacturers," he said. "They are knowledgeable about motor sport and make an ideal partner for Formula One."
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