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Buyout group HIG set to buy Nuerburgring
An investor group led by buyout firm HIG Capital is poised to acquire the financially troubled Nuerburgring race track in Germany, two sources familiar with the transaction said on Wednesday. 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 Nuerburgring's assets with the German competition authority, the Federal Cartel Authority said on its website. According to weekly publication Wirtschaftswoche, HIG is paying no more than 60-70...
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10y ago from SuperSport.com
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