Baker Botts Advises Liberty Media Corporation in Its Acquisition of MotoGPTM
Deal Description: On 1 April 2024, Liberty Media Corporation (“Liberty Media”), entered into an agreement to acquire Dorna Sports, S.L. (“Dorna”), the exclusive commercial rights holder to MotoGPTM World Championship, from Bridgepoint and Canada Pension Plan Investment Board (“CPP Investments”). The transaction price represents an enterprise value of €4.2 billion and an equity value of €3.5 billion, with MotoGP’sTM existing debt balance expected to remain in place after close. MotoGPTM will be attributed to Liberty Media’s Formula One Group tracking stock.
The acquisition is anticipated for completion by end of 2024 and is subject to regulatory approvals by competition and foreign investment law authorities in various countries.
Liberty Media’s press release can be found here.
Baker Botts Offices/Lawyers Involved:
Antitrust: Paul Cuomo (Partner, Washington D.C.), Catriona Hatton (Partner, Brussels), David Cardwell (Partner, Brussels), Sofia Doudountsaki (Special Counsel, Brussels), Dina Jubrail (Special Counsel, London), Simon Gammeltoft (Associate, Brussels), Margot Vogels (Associate, Brussels)
Tax: Jon Lobb (Partner, Houston), Josh Mandell (Partner, Dallas), Graham Brough (Special Counsel, London), Nick A. Frey (Associate, San Francisco)
Finance: Stuart McIntyre (Partner, London)
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