France: HSFD, holding company of Evian TG, takes over 35% stake from minority shareholders

"Following the decision of a group of minority shareholders, representing 35% of the capital of the Haute-Savoie Football Development, to withdraw from the group through significant capital gains, HSFD, the holding company of the majority of shares in Evian Thonon Gaillard FC (Ligue1), has acquired all the minority shares sold," announced HSFD, the holding company which owns 90% of the Evian Thonon Gaillard, on 23/03/2015.

The amount of the transaction, set by a local French court, is €1,844,780. Former football players Zinedine Zidane and Bixente Lizarazu, and Michel Denisot, the former president of Paris Saint-Germain, were among the 34 minority shareholders who sold their shares in HSFD. Each shareholder owned 1% share of the club -- except Zinedine Zidane who owned 2% -- and sold their stake for about €50,000.

HSFD had a right of first refusal on the acquisition of the 35% stake in the group until 26/03/2015. Before this acquisition, the shareholding of the HFSD was mainly distributed among Esfandiar Bakhtiar (42% stake) and Richard Tumbach (16%). The new shareholding structure…