Canada Pension Plan Investment Board is selling its stake in the world’s foremost organizer of motorcycle racing for $1.9-billion to the company that made Formula One auto racing a global success.
The deal allows CPPIB to cash out the investment its private-equity arm made in motorcycle racing. Dorna is a sports management, media and marketing company that organizes the world’s top-tier motorcycle races, where riders reach speeds of more than 360 kilometres an hour. CPPIB manages $591-billion in assets for more than 22 million contributors and beneficiaries of the Canada Pension Plan. Its private equity division has $146-billion in assets, accounting for 26 per cent of the fund.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: