Olympique Lyonnais Completes Debt Renegotiation and Acquisition by Michele Kang

French: Orrick conseille Pristine SAS dans le cadre de la renégociation de la dette de l’Olympique Lyonnais et de son acquisition par Michele Kang

Olympe Bidco SAS, Michele Kang's acquisition vehicle, completed the acquisition of all Eagle Football Group S.A. shares held by Eagle Football Holdings Bidco Limited (in administration), representing approximately 87.78% of Eagle Football Group S.A.'s share capital, for an aggregate price of $30 million.

Orrick advised Pristine SAS.

THE COMPANY

Pristine SAS is the management company of the debt securitization fund (fonds commun de titrisation) “OL StadCo” and the principal creditor of Olympique Lyonnais.

THE IMPACT

The transaction included the debt reprofiling with Olympique Lyonnais SASU's senior secured lenders, the release of the OL Group's liabilities toward affiliates of Eagle Football Group S.A., and the availability of a first €31 million shareholder loan installment from Olympe Bidco to the OL Group.

Olympe Bidco has committed up to €71 million over the next two football seasons.

Eagle Football Group S.A. will be renamed “Olympique Lyonnais Groupe S.A.” as part of the next shareholders' meeting.

THE TEAM

François Wyon leads the Orrick team, which includes Charles Connesson.