CMA CLEARS MSV Takeover Of Donington Park
MSV STATEMENT: CMA CLEARS TAKEOVER OF DONINGTON PARK
The Competition and Markets Authority (CMA) has announced today (11/8) that it has unconditionally cleared the acquisition by MotorSport Vision (MSV) of the Donington Park circuit business.
Jonathan Palmer, MSV Chief Executive, said: "I am delighted that the CMA has decided to clear MSV's purchase of the Donington Park circuit business at the initial, Phase 1 level.
Whilst it has been frustrating to put our plans on hold whilst we awaited this decision, we have never doubted that Donington's customers and end users will benefit significantly from MSV's much greater investment in all aspects of the venue, and the associated improvement in the customer experience both in terms of service and value.
My management team at MSV are all very excited about the potential of Donington Park and we are planning a great new era for the circuit. We now look forward to immediately getting to work with the existing Donington personnel in order to achieve this. "We are grateful to the CMA for their thorough and careful review of this transaction."
MSV reached agreement in January with Kevin Wheatcroft, owner and operator of Donington Park, for MSV to take over the Donington Park circuit business and to lease the Donington Park Estate for an initial 21 year term.
Prior to obtaining competition clearance MSV had not been permitted to be involved in the operation of Donington Park.