Liberty Media (FWONA, FWONK, LLYVA, LLYVK) said it received unconditional approval from the European Commission to complete its acquisition of Dorna Sports. Receipt of the European Commission’s approval is the final condition to the transaction, which is now expected to close no later than July 3, the company said in a statement. “This acquisition enables Liberty Media to accelerate MotoGP’s international appeal and bring captivating racing to a wider global audience,” it added. Liberty Media will acquire 84% of Dorna with Dorna management retaining 16% of the business. The transaction reflects an enterprise value for Dorna of EUR 4.3B and an equity value of EUR 3.7B with the existing debt balance at Dorna expected to remain in place after closing.
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