Agencies: completion of the acquisition of 75% of Lagardère Sports by investment fund H.I.G. Capital

"As part of its strategic refocusing, and as announced on 16/12/2019, today the Lagardère group finalised the sale of Lagardère Sports to H.I.G. Capital (American investment fund)," said the publishing, production, broadcasting and content distribution group, on 22/04/2020.

"This disposal sees Lagardère take a further decisive step in its strategy of concentrating all efforts and resources on developing Lagardère Publishing and Lagardère Travel Retail," explained the group, which retains a minority stake of 24.9%.

H.I.G. Capital had signed a definitive agreement to acquire Lagardère Sports on 20/02/2020, a transaction that was then subject to the approval of the French Competition Authority. The fund made an offer to acquire 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," explained Lagardère on 16/12/2019

• "Following the closing of the transaction, the company will be led by a new CEO, Stefan Felsing…