Ligue 1 Conforama: French Competition Authority authorizes takeover OGC Nice by Ineos (J. Ratcliffe)

"The Competition Authority authorizes the acquisition of the OGC Nice (Ligue 1 Conforama) by the Ineos group," announced the French administrative authority on 21/08/2019. This antitrust clearance was the last step for the club and its new owner before formalizing the takeover, which is expected to close on Friday 23/08/2019.

The employees of OGC Nice had previously delivered an (advisory) favorable opinion to the takeover project of the club by the company based in Switzerland and specialized in the chemicals and oil sector, on 09/07/2019, before the DNCG (French professional football financial control) validated the operation on 31/07/2019.

"The Competition Authority has noted that, at the end of the operation, the new entity will hold only a very limited position in the various sectors of activity of the professional football clubs, and in particular in the market for the transfer of professional players, and therefore authorized this purchase without subjecting it to any special conditions," added the French body.

Ineos is run by British businessman Jim Ratcliffe, holder of…