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

Just like last year in the Ligue 1 championship, where Lyon finished eighth without qualifying, so OL Groupe may soon leave Paris through the black doors. coast.

Pathé, the Chinese fund of IDG Capital, and Holnest, the holding company of president and founder Jean-Michel Olas, have just entered into exclusive talks with Eagle Football Holdings to sell it a controlling stake in OL Groupe. Eagle Football Holdings is none other than the company run by 56-year-old John Textor, co-owner of the British Premier League club Crystal Palace (40%), as well as the owner of 80% of Belgian Racing White Daring Molenbeek and 90% of Brazilian Football Club Botafogo Series A.

The value of the enterprise is UAH 884 million

This is a surprise because John Textor’s proposal was appreciated. ” too low and he lost his position, even if he had not yet lost hope as the other two candidates “, The diary recently pointed out Team. Foster Gillett seemed to be holding the rope. The 46-year-old American businessman, son of George Gillett and former Liverpool owner, came to meet with Jean-Michel Olas earlier this month, offering to invest 600 million euros through the purchase of part of his shares (28%) and stakes in Pathé and IDG (almost 20 % each, both were sellers of their shares for many months) and an additional payment.

In the same way, John Textor will acquire all the shares of Pathé and IDG (19.26% and 19.74% of the capital, respectively) and Holnest (27.56%), ie a total of 66.56% of the shares of the group that oversees the football club Lyon. On the other hand, disappointment in the price announced at 3 euros per share, which will also increase the reserved capital by 86 million euros. that is, an enterprise worth 798 million euros per 1is July and 884 million after fundraising. This is below the last listed level of 3.07 euros and especially 3.3427 euros, at which the Chinese fund IDG Capital entered the capital in 2016. Of course, we will not mention the more than 15 euros that prevailed at the time of the IPO. at the end of 2006. However, the premium is almost 60% compared to the share price before Pathé and IDG Capital announced their intention to sell their shares.

Leaving the coast leaves no doubt

The capital increase will be approved by the Extraordinary General Meeting of Shareholders of OL Groupe, which will be convened for this purpose, in principle, by July 31. Holnest, Pathé and IDG Capital have already committed to voting for the operation, the proceeds of which will be used for significant investments, including in sports teams and infrastructure. Closing the proposal could intervene during the fourth quarter, given the forced exclusion.

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

For Oddo BHF, there is no doubt about the listing scenario, ” after 15 years of listing and completely disappointing stock market performance “Together with Holnest, Eagle Football will indeed have 89% of the capital at the end of the operation and the refund of OSRANE (bonds that can be redeemed with new or existing shares),” the research office said. therefore, there is no doubt about the outcome of the takeover offer in the fourth quarter, and if the situation does not change, OL Groupe will be excluded from the list. »