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UK Competition and Markets Authority to Ratchet Up Probe MSV's Acquisition of UK Racing Circuit Donington Park.

MANews-(C)2009-2017

11 August 2017 - The UK Competition and Markets Authority has decided, on the information currently available to it, not to refer the acquisition of UK-based motor racing circuit Donington Park by UK-based MotorSport Vision Group Ltd. to a Phase 2 investigation, the CMA said on Friday.

In January, MSV Group Ltd agreed to acquire Donington Park and related assets and land interests.

Under the deal, MSV would take over the Donington Park circuit business and to lease the Donington Park Estate for an initial 21 year term.

MSV, a private company owned by former F1 driver Jonathan Palmer and Sir Peter Ogden, already owns and operates four UK race circuits - Brands Hatch, Oulton Park, Snetterton and Cadwell Park.

In addition the PalmerSport corporate hospitality event is based at MSV's Bedford Autodrome facility.

MSV expanded into Europe in 2015 following the freehold purchase of a former military airbase in north-east France, which it is currently developing into a large motorsport village (Laon Autodrome).

The group also holds the promotional rights for the MCE British Superbike Championship and the BRDC British F3 Championship.

Leicestershire's Donington Park is one of the UK's best known motor racing circuits and hosted its first event in 1931. The circuit was expanded and became home to Grand Prix racing before the Second World War in 1939 saw the venue become a military vehicle depot.

It fell into disrepair until 1971 when Donington was purchased and then revived by local construction entrepreneur Tom Wheatcroft, who re-established the circuit as one of the leading motor racing venues in Europe.

The circuit went on to host the British round of MotoGP for 23 years and the circuit held a standalone round of the Formula One World Championship in 1993 - the European Grand Prix, which saw a memorable, dominant performance in the rain by Ayrton Senna.

Country: UK

Sector: Leisure/Arts

Target: Donington Park

Buyer: MotorSport Vision Group Ltd.

Vendor:

Deal size in USD:

Type: Corporate Acquisition

Financing:

Status: Closed

Buyer advisor: , ,

Comment: UK CMA moves to phase 2 probe of closed deal

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Publication:M & A Navigator
Date:Aug 11, 2017
Words:345
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