Textor’s Eagle Football given final deadline to complete OL Groupe buy

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December 6 – US investor John Textor and his Eagle Football Holdings group have been given until December 7 to close the deal to French Ligue1 club Olympique Lyonnaise.

The completion of the deal has already been postponed several times as Textor finalised his finance. The deal to acquire the club was first singed on July 7.

In a statement yesterday, Olympique Lyonnais Groupe (OLG) said: “In view of the progress made, in the last 48 hours, the Sellers and OL Groupe have agreed to grant Eagle a final deadlineas at December 7, 2022 to reach a final and unconditional and financed agreement with all parties and on the basis of which closing can be initiated.”

OLG said that if Eagle miss the deadline no further extension will be granted and OLG will “consider alternative sources to strengthen its equity, to ensure that it will have solutions available rapidly in the event that the transactions with Eagle Football are not completed.”

For their part, Textor and Eagle have told OLG they have all the approvals to proceed with the transactions and their financing.

Eagle is buying €39,201,514 shares issued by OLG at €3 per share. Eagle is also buying 789,824 shares of the OSRANE group of shareholders (film company Pathe, Chinese investment fund IDG Capital and Jean-Michel Aulas’ family holding company Holnest) at €265.57 per share.

In total the price Eagle is paying for shares is about €327 million which will give Eagle close to 88% of the OL Groupe.

Textor is also committed to a €86 million capital increase for the group’s investment needs, including building an arena for concerts and events.

When the deal was announced Textor said: “Olympique Lyonnais will be the cornerstone of our project. I intend, with the support of Jean-Michel and his teams, to bring out the values ​​of development and self-improvement for which I have always been committed.”

Aulas added: “With this project, Olympique Lyonnais is opening a new chapter in its formidable history. For 35 years, my desire has always been to make Olympique Lyonnais a unique model in football, combining sporting and economic success.”

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