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UK - FL Partners acquires Racing Post for £170m

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FL Partners, the Dublin-based private equity investment firm, has acquired the Racing Post from Trinity Mirror Plc for ТЃ170m. The purchase includes the Racing Post newspaper together with its website, a number of weekly and annual racing publications, and related publications for the betting industry. Debt finance for the transaction was provided by Anglo-Irish Bank. The new owners plan to invest significant resources developing the business, with particular emphasis on additional online and multimedia services as well as expanding into new markets.

The Racing Post was first published in April 1986 in competition to the Sporting Life which had been in existence from 1859. In just over a decade, it overtook its rival and became the leading industry voice. In 1998, following its sale to the then Mirror Group, the Racing Post was merged with the Sporting Life. Published seven days a week, its audited net average issue sale for August 2007 was 72,184 copies.
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