Olympique Lyonnais is at a turning point. On March 9, we learned that two main shareholders of the club, Pathé and IDG Capital (19.36% and 19.85% of the shares), wanted to sell their shares. They had mandated investment bank Raine for this, as they explained in a press release.
Two partners want OL . letting go
“Pathé and IDG Capital have received expressions of interest from investors and will favor parties willing to partner with current management to continue developing the club’s vision and building on Olympique’s legacy.† OL quickly reassured Groupe about his financial situation†
A few weeks later, the plan to buy back the shares of the two shareholders is in motion. Yesterday, the newspaper specialized in economics, Bloombergrevealed that the club chaired by Jean-Michel Aulas would have been the subject of numerous offers† Six, to be exact. These would come from European and American investors. After the commotion this news caused, OL Groupe decided to respond this Friday morning by means of a press release.
Les Gones respond
“Following information published in the media today, OL Groupe recalls that Pathé and IDG Capital informed the market through a press release dated March 8, 2022 that they had decided to engage Raine bank to support their strategic options in respect of their respective interests in OL Groupe, and that they had received expressions of interest from investors”, can we read.
“In this context, as indicated in the OL Groupe press release of March 9, 2022, the company confirms that it will continue to carry out its development projects within the framework of the guidelines defined by the Board of Directors to strive for alignment, as far as possible , the project to strengthen its financial structure announced on February 15, 2022, with the ambitions of Pathé and IDG Capital.These works and operations of OL Groupe, carried out under the leadership of Jean-Michel Aulas, are part of a logic of continuity and sustainability of management.†
The plan to buy back shares is progressing, but…
OL then added: “OL Groupe confirms that it is aware that investors have expressed their interest in an operation that will allow Pathé and IDG Capital to withdraw from its financing round. A number of them have also expressed an interest in participating in the strengthening of the company’s financial structure. OL Groupe’s General Management is being mobilized to ensure that this process takes place in the best possible conditions for the company and all its shareholders, including its minority shareholders. However, as highlighted in today’s Bloomberg broadcast, which was picked up notably by the Boursier.com website, there is no assurance that the work in progress will lead to an operation.†
Finally, the club concluded: “As a reminder, OL Groupe’s share capital currently consists of 58,898,591 shares and on August 1, 2013, Osranes-type bonds (bonds redeemable in new or existing shares) were issued, the number of which is currently in circulation is 996,264 which may give rise to until its maturity date on July 1, 2023 by creating 90,992,776 shares”. As the share buyback process of Pathé and IDG capital accelerates, it should not be forgotten that Jean-Michel Aulas plans to keep 28% of the company. OL will soon be entering a new era.
