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Nurburgring poised to be saved by investor consortium

Nurburgring poised to be saved by investor consortium 6 March, 2014 An investor group led by buyout firm HIG Capital is poised to acquire the financially troubled Nurburgring race track in Germany, two sources familiar with the transaction have claimed. The circuit went into administration in 2012 after local politicians loaded it with debt equating to around 50 years worth of profit, and the famed and once-feared track started looking for a new owner in the spring of 2013. The HIG consortium HIG has already registered the acquisition of substantial parts of Nurburgring's assets with the German competition authority, the Federal Cartel Authority said on its website. According to weekly...
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11mo ago from GrandPrix247.com 0
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