Jul.20 (GMM) CVC's control of formula one is now official, after it was confirmed that the investment company sold its stake in MotoGP for a cool $626m.
The new controlling owner of Dorna, the Spanish MotoGP company, is 'Bridgepoint Capital', a private equity firm.
CVC, which bought Dorna for $82m in 1998, was forced to sell the three-quarter stake by competition regulators after it gained control of formula one, London's The Times said.
'Bridgepoint' is believed to have beaten five other bidders for control of MotoGP, which is F1's two-wheeled equivalent.
A Bridgepoint spokesman said MotoGP's governing body has been informed, and that the transaction is 'subject to approval by the relevant competition authorities'.
Written: Thu, 20 Jul 2006 08:37:41
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