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QIA Seeks To Buy Infront Sports & Media

The Qatar Investment Authority has placed a bid for Swiss media agency Infront Sports & Media.

The Qatar Investment Authority (QIA) has placed a bid for Swiss media agency Infront Sports & Media, Financial Times reports. Other bidders include U.K. private equity group Bridgepoint and another sovereign wealth fund from Abu Dhabi. The auction was initiated by Andreas Jacobs, who owns a 59.8% stake in the sporting rights agency, which is led by Philippe Blatter.

Monaco-based Nicole Junkermann holds a 40% stake through her United in Sports private equity fund. The owners are expecting to fetch a price of €1 billion from the auction, though some bidders valued the sporting rights agency at only €600 million. The sale is being run by Goldman Sachs and Nomura.

Click here for the story from Financial Times.

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