Exponent and Veronis Suhler Stevenson have tabled a joint bid for Racing Post a Trinity Mirror publication. NM Rothschild is running the auction process and has set a deadline of May 16 for offers to be received. Sheikh Mohammed bin Rashid al-Maktoum, the joint ruler of Dubai, sold Racing Post to Mirror Group Newspapers for a nominal £1 in 1997 and it is believed he retains the right to veto any potential sale. Profits at Racing Post fell by 12.6 per cent last year, to £15.2m.
First MBO in Italy for the GP, which will now start investing from its recently raised Fund VIII
Add-on comes after Mergermarket reported that the sale of Bergman had been suspended in March 2020
Trade buyer Xact was acquired by JLL Partners from Clearview Capital in 2018 in an MBO
Existing investors Novo Holdings, Morningside Ventures and Brace Pharma Capital also participate