Bridgepoint Sells 39% Of Dorna To Canadian Pension Group
Bridgepoint Capital, the private equity firm which owns Dorna and Infront Sports and Media, has sold a 39% stake in Dorna to a Canadian pension fund, Canadian media are reporting. According to a report from Reuters, Canada Pension Plan Investment Board reportedly paid 400 million euros for the 39% stake in Dorna, and will join Bridgepoint and Dorna's management - in the figure of Carmelo Ezpeleta - in running the company.
The sum paid for the 39% stake gives Bridgepoint a healthy profit. The UK-based private equity firm purchased Dorna from CVC back in 2006, when CVC purchased the rights to Formula One and were forced by the European Competition Commission to sell the rights to the MotoGP series first. Bridgepoint is said to have paid some GBP 400 million (about 550 million euros) for the 71% stake held by CVC when they took over the company.
Ellis Boyce Helmut Bradl Stefan Bradl Umberto Braga Stefan Brägger
posted by virgivaughn @ 10:00 AM
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