August 4 – Juventus are to issue new shares in a bid to raise up to €400 million. The refinance is being run by with Goldman Sachs, J.P. Morgan and other banks acting as “global coordinators” and “joint bookrunners”.
“The Joint Global Coordinators have entered into a pre-underwriting agreement with the company [Juventus] pursuant to which they have undertaken – subject to conditions in line with market practice for similar transactions – to enter into an underwriting agreement for the subscription of any newly issued shares that remain unsubscribed at the end of the auction period of the offering,” Juventus wrote in a statement.
“In this context, and as communicated on June 30, 2021, the majority shareholder, EXOR N.V. (which currently holds 63.8% of Juventus’ share capital), has committed to subscribe for the new shares issued in the context of the Capital Increase pro rata to its current interest.”
Exor is a Dutch investment company owned by the Agnelli family, with minority shares in Fiat, CNH and Ferrari as well as PartnerRe.
Juventus added that the capital increase is expected to be completed by the end of this year. Last February, Juventus announced a loss of €113.7 million in its financial report for the first six months of the 2020-21 season.
The Turin-based club doubled their losses because of the global health crisis. In 2020, Juventus completed a €300 million capital increase.
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