Edition:
United Kingdom

Ol Groupe To Acquire A Stake In Asvel


Saturday, 22 Jun 2019 

June 22 (Reuters) - Olympique Lyonnais Groupe SA ::TO ACQUIRE A STAKE IN ASVEL.TALKS INITIATED ON 22 MARCH RESULTED IN PARTNERSHIP AGREEMENT WITH ASVEL LDLC (MEN'S TEAM) & LYON ASVEL FEMININ (WOMEN'S TEAM) SIGNED ON 21 JUNE.AGREEMENT PROVIDES FOR OL GROUPE TO TAKE MINORITY STAKE IN ASVEL CLUB; EUR3.4 MILLION FOR 25% OF MEN'S TEAM, EUR 0.3 MILLION FOR 10% OF WOMEN'S TEAM.OL GROUPE WILL BE REPRESENTED ON ASVEL'S GOVERNANCE BODIES.ALL ASVEL LDLC GAMES WILL BE PLAYED IN ASTROBALLE UNTIL OL GROUPE'S FUTURE ARENA IS BUILT.ASVEL LDLC IS EXPECTED TO PLAY ITS PREMIUM EUROLIGUE GAMES IN OL GROUPE'S FUTURE ARENA ONCE IT IS OPERATIONAL.