Just weeks after announcing MotoGP and WSBK would be run under the same umbrella by Dorna, parent company Bridgepoint has sold off 39 per cent of the Spanish company to a Canadian pension fund.
Bridgepoint, which is a private equity firm, confirmed the sale today to the Canada Pension Plan Investment Board for a reported €400M Euros, which a ittle less than they paid for Dorna six years ago.
The sale effectively means Bridgepoint, and its investors, have made a three-fold profit on the business so far with 61 per cent left in its control.
“This is a unique opportunity to invest in a leading international sports management business,” said André Bourbonnais, Senior Vice-President, Private Investments, CPPIB. “Dorna’s experienced management team has demonstrated a remarkable ability to deliver consistent and strong performance.
“We look forward to working together with Dorna’s CEO, Carmelo Ezpeleta, his management team and Bridgepoint to continue Dorna’s global growth and to pursue exciting opportunities to expand into emerging markets.”
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