(updated with details)
PARIS, May 10 (Reuters) – French audiovisual group Banijay will go public by merging with Bernard Arnault-backed SPAC in a deal valued in total at more than 4 billion euros, an executive announced on Tuesday. from the group’s parent company.
Banijay, which notably includes the entertainment program “The Voice” in its global catalog, will be integrated into the company called FL Entertainment, which will go public on July 1, said François Riahi.
FL Entertainment’s IPO will be through an acquisition by Pegasus Entrepreneurs PEACE.AS, a SPAC backed by French asset management group Tikehau Capital TKOO.PA and a holding company of the family of Bernard Arnault, the CEO of LVMH
LVMH.PA.
FL Entertainment will also integrate the online betting group Betclic, currently controlled, like Banijay, by businessman Stéphane Courbit via his investment firm Financière LOV.
LOV will inject 250 million euros into FL Entertainment as part of the operation and will hold 46% of the company’s capital.
Current shareholders of Banijay and Betclic, including Vivendi
VIV.PA, promised new investments. Vivendi will thus hold 20% of FL Entertainment.
(Report Mathieu Rosemain, written by Nicolas Delame and Jean Terzian)