And 1, and 2, and 3 euros! Cheap paid to take OL Groupe off the stock exchange, company news

As in the Ligue 1 championship last year, where the Lyon football club finished in eighth place, thus not being able to qualify for a single European cup, it is through the back door that the OL Groupe may soon leave the Paris seashore.

Pathé, China’s IDG Capital and Holnest, the holding company of President and Founder Jean-Michel Aul, have just entered into exclusive talks with Eagle Football Holdings to sell it a majority stake in OL Groupe. Eagle Football Holdings is nothing more than a company run by 56-year-old John Textor, co-owner of British Premier League club Crystal Palace (40%), as well as the owner of 80% of the Belgian Racing White Daring Molenbeek and 90% of the Brazilian Serie A Botafogo Football Club.

The cost of the enterprise is 884 million rubles.

This is a surprise as John Textor’s suggestion was appreciated” too low and he has lost ground even if he hasn’t lost hope like the other two candidates “, recently pointed out the daily Team. Foster Gillette seemed to be holding the rope. The 46-year-old American businessman, son of George Gillette and former owner of Liverpool, came to a meeting with Jean-Michel Aulat earlier this month, offering him a €600m injection by acquiring part of his stake (28%), Pathé and IDG (almost 20% each, both had been selling their shares for many months) and a surcharge.

John Textor will in the same way receive all the shares of Pathé and IDG (more precisely, 19.26% and 19.74% of the capital, respectively) and Holnest (27.56%), that is, in the amount of 66.56% of the shares. group that oversees the Lyon football club. Disappointing, on the other hand, at a price announced of 3 euros per share, which would also mean an increase in the reserved capital of 86 million euros. that is, the value of the enterprise is 798 million euros per 1uh July and 884 million after fundraising. This is below the latest quoted level of 3.07 euros and especially the level of 3.3427 euros at which China’s IDG Capital fund entered equity in 2016. Of course, we will not recall more than 15 euros, which prevailed at the time of the IPO. at the end of 2006. However, the premium is almost 60% over the share price before the announcement from Pathé and IDG Capital of their intention to sell their assets.

Leaving the coast leaves no doubt

The capital increase is subject to approval by the Extraordinary General Meeting of OL Groupe Shareholders, which will be convened for this purpose, generally by 31 July. Holnest, Pathé and IDG Capital have already pledged to vote on the operation, the proceeds of which will be used for significant investments, especially in sports teams, as well as in infrastructure. Closing of the offer may occur during the fourth quarter, with mandatory delisting.

As mentioned earlier, Jean-Michel Aulat will retain his mandate as CEO for at least 3 years and will therefore be in charge of the group’s strategy. The executive committee of OL Groupe will remain unchanged, but Jean-Michel Ola will also join Eagle Football’s management to support its development and the development of the clubs in which the company has a stake.

Oddo BHF has little doubt about the delisting scenario,” after 15 years of listing and completely disappointing results in the stock market Together with Holnest, Eagle Football will indeed own 89% of the capital at the end of the operation and recover OSRANE (bonds redeemable by new or existing shares), calculates the research bureau, which concludes that ” therefore, there is little doubt about the outcome of the takeover bid in the fourth quarter, and if the situation does not change, this should lead to the delisting of OL Groupe. »