Private equity group Bridgepoint is preparing the sale of Dorna, commercial rights-holder of the MotoGP and Superbike World Championship motorcycling series, according to the Financial Times.
The newspaper said Bridgepoint has appointed Lazard Asset Management to conduct a review of the business ahead of the potential sale of its remaining majority stake in Dorna next year.
Bridgepoint acquired Dorna in 2006 in a deal that valued the company at about €500m ($571.9m). It sold a 39-per-cent stake in the business to Canadian pension fund investment group CPPIB in 2012 and is now reportedly seeking to offload the remaining 40 per cent in a deal that will value Dorna at over €1bn, including debt.
The Financial Times said Dorna’s management, which will play a role in the potential sale, has a strong preference for private equity firm CVC Capital Partners as the new owner given its prior ties to the company.
CVC sold Dorna to Bridgepoint in the wake of its acquisition of the Formula One motor-racing championship and has previously been linked to returning to the company.