Germany: New NR Holding AG Takes Over Responsibilty for capricorn NÜRBURGRING Besitz GmbH to Secure Financing of Nuerburgring Sale

The rumors about the financial difficulties of the Nuerburgring buyer Capricorn (cf. EAP news from 2 Oct 2014) are now history. According to a press statement published at the end of October, the administrators of the Nuerburgring were able to confirm that the sale contract with the capricorn NÜRBURGRING Besitz GmbH (CNBG) has been implemented as planned. New investor and majority shareholder of CNBG is the NR Holding AG, which, in addition to the co-partner GetSpeed GmbH & Co. KG, is said to support the existing potential of Nuerburgring as a financially strong and long-term partner. Russian investor and multi-millionaire Viktor Kharitonin is one of the stake holders of NR Holding AG. The total financing for the sale of Nuerburgring was secured now. It was underlined that the new investor’s entry only meant a change at shareholder level. The operations and management were unaffected by the events. (eap)