Deals

PRESS RELEASE – DELSOL Avocats advises Olympique Lyonnais on its equity investment in ASVEL basketball club

DELSOL Avocats has worked alongside Olympique Lyonnais on its equity investment, exceeding 25% in ASVEL (€3.4 M) and 10% in ASVEL Women (€0.3 M).

The football club founded in LYON in 1950 and chaired by Jean-Michel AULAS will be represented in the management bodies of the basketball club led by Tony PARKER. Over a five-year period, OL Groupe has also agreed to exchange other company shareholders’ shares in the ASVEL men’s team structure against existing or future OL Groupe shares.

Finally, a strategic agreement was reached. It will enable Olympique Lyonnais to monetize the international image and profile of Tony PARKER (in the US and China, amongst others). The agreement also covers synergies between OL Groupe and ASVEL LDLC on the commercial activities (ticketing, sponsorship, etc.).

Amaury NARDONE, partner and joint head of DELSOL Avocats’s Corporate Law – Mergers & Acquisitions Department, supported Olympique Lyonnais from the start of the exclusive discussions last March to the partnership agreement being signed on 21 June 2019.

He was assisted by a team comprising :
Hala NEHME, associate, working alongside him on negotiating and producing the documentation (LOI, protocol, agreement, commercial term sheet) and legal audit,
Frédéric SUBRA, partner and joint head of the Tax Law Department, andJustine MESNIER, associate, on the tax audit,
Philippe PACOTTE, partner and joint head of the Employment – Social Welfare Law Department, and Stéphanie DAGUERRE and Caroline MARGERIN, associates, on the social audit.