OL Groupe: agreement with J.-M. Aulas for the buyback of one third of Holnest’s shares (for €14.4m)

OL Groupe, the holding company that owns Olympique Lyonnais (Ligue 1 Uber Eats), has entered into an agreement with Jean-Michel Aulas for the buyback of one third of Holnest's (the family office of the club's former president) shares in the group, announced both parties on 11/12/2023. The agreement provides for the acquisition of 4,826,540 shares at €3 each, for a total of €14,479,620.

The operation is "in accordance with the settlement agreement entered into between OL Groupe, Jean-Michel Aulas and Holnest dated 10/05/2023, previously authorized by the board of directors on 09/05/2023." It was made possible by the refinancing of the majority of OL Groupe's debt (up to €385m) announced on 07/12/2023.

The agreement also provides for the mutual withdrawal of the various ongoing legal proceedings between both parties once the transaction has been completed. A number of court cases were brought between OL Groupe and Holnest in the summer of 2023, following the DNCG's decision to restrict the club's wage bill and transfer fees in July 2023.

In early August 2023, Jean-Michel Aulas took his…