Sky Increases Team Sky Shareholding

Sky has increased its shareholding in Tour Racing Limited – better known as Team Sky, the company which operates the Sky Pro Cycling Team – after Sky took on a 25% shareholding stake from 21st Century Fox.

Following the transaction, Sky will now own 85% of Team Sky with 21st Century Fox retaining the final 15% stake. 21st Century Fox is a related party of Sky for the purposes of the UKLA Listing Rules.

Prior to their acquisition by Sky in November last year, 21st Century Fox owned Sky Italia and a majority interest in Sky Deutschland.

The adjustment in ownership structure of Team Sky reflects the fact that the three Sky businesses are now part of a single company.

Founded in 2009 as Sky Pro Cycling, Team Sky saw two of its riders win the Tour De France twice in the last three years, with Sir Bradley Wiggins and Chris Foome securing the yellow jersey in Paris in 2012 and 2013 respectively.

Sky purchased the shareholding from 21st Century Fox at the par value of the shares (£25).

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