Lagardère Sports: 75% of the agency sold to HIG Capital, Stefan Felsing named as new CEO

H.I.G. Capital has signed a definitive agreement to acquire the sports marketing agency Lagardère Sports, according to the US investment fund on 20/02/2020. Lagardère Group will retain a minority stake of 24.9%. The transaction is subject to the approval of the Competition Authority.

"Following the closing of the transaction, the Company will be led by a new CEO, Stefan Felsing, a highly experienced executive in the sports marketing industry," said the fund, which made an offer for 75% of Lagardère Sports on 16/12/2019.

"This planned disposal values Lagardère Sports at approximately €110m (€55m in net cash and €55m in liabilities), and the Lagardère Sports and Entertainment division as a whole at around €150m. The planned disposal will be submitted to the relevant employee representative bodies and is subject to clearance from the competition authorities. The transaction is targeted to close before the end of the first quarter of 2020," explained Lagardère on 16/12/2019, who announced that it would assess the strategic options for the sale of all or part of Lagardère Sports, in a…