Football
EAGLE FOOTBALL GROUP (ex OL GROUPE)
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Lyon, June 6, 2024 – 8.00 am.
Eagle Football Group announces the signature of an agreement with Holnest and a group of investors and institutions, for the sale of all shares in OL Vallée Arena (the company operating the LDLC Arena).
The transaction was authorized by the board of directors on June 5, 2024.
The sale of 100% of the company’s shares and current account of Eagle Football Group is worth around €70 million, based on a valuation of the company estimated at around €160 million.
The transaction will be settled in the form of Eagle Football Group shares held by Holnest for around €16 million, and the balance in cash for around €54 million.
The transaction is expected to close on June 12.
Eagle Football Group has granted the usual indemnification undertakings and guaranteed them with a pledge of a portion of its treasury shares.
This operation is in line with the Group’s strategy, in particular the refocusing on men’s football announced on October 25. It should enable Eagle Football Group to recognize a capital gain on the sale in the 2023/2024 financial statements, as well as a significant reduction of debt.
Since its opening in November 2023, the LDLC Arena has been a great success, and has already hosted numerous events such as LDLC ASVEL’s Euroleague basketball matches, and shows by Florence Foresti, Lomepal, Sting, Calogero, Shaka Ponk, Hoshi, Grand Corps Malade, Stars 80, Etienne Daho, Eric Clapton, etc. We wish the LDLC Arena’s new shareholders every success in their future activities.
“ We are delighted to have concluded this agreement with Holnest. Since we arrived in Lyon, we have been clear in our plan to dedicate all of our capital and human resources to football. Thanks to the investment and passion of Jean-Michel and his new associates, we can focus on our goal to bring European championships to Lyon, while the great contribution of the LDLC Arena will continue to benefit the Lyon metropolitan area and its Region for many years to come ” said John Textor, Chairman and CEO of Eagle Football Group.
Jean-Michel Aulas said “I am delighted with this new alliance with John and the daily cooperation with Laurent Prud’homme, and we are determined to maintain the operational excellence of the LDLC Arena while exploring new opportunities to expand its impact and reach. This acquisition marks the beginning of an exciting new phase for LDLC Arena, with Holnest, and its partners, bringing their expertise and resources to support and develop the space in the years ahead. We’re delighted to have been able to bring together leading institutions within Holarena, including the Conseil Régional, and industrialists from Lyon and Paris, all of whom are renowned in their fields. We look forward to working with the talented team at the LDLC Arena to develop its full potential and continue to offer exceptional experiences to sports and entertainment fans”.