Formula 1 owner Liberty Media says it is finally set to complete a deal to take control of motorcycle racing series MotoGP after receiving approval from the European Commission.

Formula 1 commercial rights owner, Liberty Media, can finally complete its acquisition of the MotoGP motorcycling world championship after receiving unconditional approval from the European Union’s European Commission executive arm.

Liberty Media is poised to take control of MotoGP, acquiring an 84% stake in Spain-based Dorna Sports, the rights holder. After receiving unconditional approval from the European Commission, the deal is valued at 4.