(CercleFinance.com) – OL Groupe is making progress on the stock market this Tuesday after announcing that it had reached an agreement with Jean-Michel Aulas, its former CEO, thus putting an end to several months of litigation.
The stock is currently increasing by 1.5%, which does not prevent it from heading towards annual losses of around 30% in 2023.
Under the terms of the agreement, OL Groupe will acquire a third of the OL Groupe shares held by Holnest, the family holding company of Jean-Michel Aulas.
This operation, which concerns more than 4.8 million shares at a unit price of three euros per share, or a total of 14.5 million euros, will be implemented as part of the share buyback program of the Rhone club.
Once this acquisition has been completed, Holnest will withdraw from the current legal action.
For the record, the complaint filed by Jean-Michel Aulas resulted, in August, in a decision by the Lyon Commercial Court which consisted of freezing more than 14.5 million euros of assets belonging to the club of football.
In a press release, OL – now led by American businessman John Textor – believes that this agreement allows it to preserve its interests by putting an end to current procedures and actions and to normalize its relations with Jean-Michel Aulas.
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