The takeover bid (OPA) for Olympique Lyonnais shares filed by Eagle Football, the holding company of American multimillionaire John Textor, will be open from July 20 to August 2 inclusive, the French stock market policeman announced on Wednesday.
The AMF on Wednesday validated Eagle Football’s project, which proposes to buy back some 21.4 million shares, or 12.19% of the capital, at a price of 3 euros per share – i.e. a maximum total amount of 64 million euros. Eagle Football currently owns some 78.5% of OL’s capital, according to the AMF.
Eagle Football does not intend to withdraw OL from the Paris Stock Exchange at the end of this operation and will not buy back the nearly 14.5 million shares of OL, or 8.23% , which still holds the company Holnest of Jean-Michel Aulas, historical figure of the club. Olympique Lyonnais went under the American flag last December, when its takeover by John Textor and his holding Eagle Football was finalized, after six months of negotiations and several postponements.
The entry of Eagle Football, at the time with just over 77% of the capital of OL Groupe, represented a historic turning point for the L1 club, chaired for 35 years by Mr. Aulas.
Jean-Michel Aulas was dismissed on May 5 from his position as CEO in favor of John Textor. He was appointed honorary chairman and must remain a director as long as his Holnest holding company holds voting rights and shares in the company.
Tuesday, the same day that the AMF validated the takeover bid, the National Directorate of Control and Management (DNCG) of the Professional Football League had confirmed on appeal the measures to regulate the wage bill and compensation for club transfer. “Welcome to football in France!” had quipped John Textor in a press release regretting the decision of the DNCG.