Lyon, December 5, 2022
OL Groupe recalls that Eagle Football Holdings LLC
[1]
controlled by Mr. John Textor, is committed to its main historical shareholders (Pathé, IDG Capital and Holnest,
hereinafter the “Sellers”
) to acquire 39,201,514 OL Groupe shares at a price of €3 per share and 789,824 OL Groupe OSRANEs at a price of €265.57 per OSRANE. The acquisition contract is firm and unconditional; in particular, it does not include conditions relating to the financing of the operation or third-party agreements.
Eagle Football has also undertaken to subscribe, subject to the completion of these acquisitions, to a reserved capital increase of OL Groupe for a total amount of €86 million.
(the operations described above being hereinafter together referred to as “the Operation”)
. This capital increase was approved by the general meeting of July 29, 2022.
With regard to the debt of the Olympique Lyonnais group, it is recalled that all of the lenders of the Olympique Lyonnais group have given their consent to the Transaction (”
waivers
“)
[2]
with effect from
closing
.
The completion of these operations has suffered several postponements.
In the press release of December 2, it was announced that the Sellers and OL Groupe had granted Eagle Football additional time to finalize the various stages allowing it to carry out the operations to which it has committed, the Sellers and OL Groupe having decide, Sunday evening December 4, on the follow-up to be given to the Operation in view of the progress made by then.
Eagle Football has today advised the Sellers that progress has been made in obtaining the agreement of all parties, including the Premier League’s agreement, to proceed with the transactions and their financing, but that additional time was necessary for him
.
In view of the progress made in the last 48 hours, the Vendors and OL Groupe have agreed to grant Eagle a final deadline of December 7, 2022 to find a final, unconditional and funded agreement with all parties, an agreement on the basis of which the closing mechanism may be engaged.
After this last period, the Sellers and OL Groupe can only note that it has become unproductive to give Eagle Football additional time to carry out the operations that Eagle has undertaken to carry out unconditionally under the terms of the contracts signed in dated July 7, 2022.
OL Groupe will also consider alternative sources of strengthening its equity to quickly have solutions available in the event that the operations with Eagle Football are not carried out.
[3]
.
Such : Fax: E-mail : www.ol.fr |
Euronext Paris – Compartment C Indices: CAC Small – CAC Mid & Small – CAC All–Tradable – CAC All-Share – CAC Consumer Discretionary |
[1]
Directly or indirectly, by an affiliate (“Eagle Football”).
[2]
Subject in particular to early partial repayment of the bank debt of approximately €50 million.
[3]
This research is in accordance with agreements with Eagle.
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Full and original press release in PDF format:
https://www.actusnews.com/news/77504-olg-051222-accord-avec-eagle-fr.pdf
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