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Disclaimer :
The Competition DG makes the information provided by the notifying parties in section 1.2 of Form CO available to the public in order to increase transparency. This information has been prepared by the notifying parties under their sole responsibility, and its content in no way prejudges the view the Commission may take of the planned operation. Nor can the Commission be held responsible for any incorrect or misleading information contained therein.
SECTION 1.2
Description of the concentration
This notification concerns a proposed concentration pursuant to Article 4 of Council Regulation (EC) No. 139/2004 (“Merger Regulation”) by which Liberty Media Corporation (“Liberty Media”), a company registered in the United States, will acquire sole control within the meaning of Article 3(1)(b) of the Merger Regulation over Dorna Sports, S.L. (“Dorna Sports”), a company registered in Spain and currently under the joint control of Bridgepoint Group plc (“Bridgepoint”), a global asset manager registered in the United Kingdom, and the Canadian Pension Plan Investment Board (“CPPIB”), a Canadian Federal Crown Corporation registered in Canada.
Liberty Media owns interests in a broad range of media, sports and entertainment businesses. Liberty Media interests are attributed to two tracking stocks: Formula One common stock and Liberty Live common stock track the businesses, assets and liabilities of the Formula One Group and the Liberty Live Group, respectively.
Dorna Sports became organizer of the championship now known as FIM World Championship Grand Prix (“MotoGP”) in 1992 and has been the exclusive commercial and television rights holder since then. Dorna is active in sports management, marketing and media, and over the years has expanded its focus from solely MotoGP to include other motorcycle racing championships.
The concentration will be accomplished by way of purchase of shares (in particular, the acquisition of 86% of the shares in Dorna Sports, with certain members of Dorna Sports’ management retaining approximately 14% of the equity).
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