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DORNA PARENT LAUNCHES SHARE OFFER

Bridgepoint Capital, the majority stakeholder in Madrid-based MotoGP and World Superbikes commercial rights proprietor Dorna Sports, is about to float around 25% of its own equity on the London Stock Exchange. BDN financial editor Roger Willis reports.

In the rare instance of a private equity group going for a public listing, Bridgepoint has planned an initial public share offer which is set to raise at least £500m in total. This will value its entire business at about £2bn.

Bridgepoint was founded in 2000 after a management buy-out of NatWest’s private equity arm. Focusing on mid-sized investment deals of up to the €1bn (£860m) mark, the group currently manages €27.4bn invested through a range of private equity and debt funds — and trousered £191.8m in operating profits during 2020.

It originally acquired control of Dorna in 2006, after another buy-out specialist, CVC Capital Partners, was forced to divest ownership by EU competition authorities. CVC also owned Formula One car racing at that time. 

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