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Michele Kang and Ares Capital express interest in Lyon takeover
TL;DR
Michele Kang and Ares Capital are interested in acquiring Lyon, currently owned by Eagle Football Group. A committee has been formed to oversee the process and prevent conflicts of interest amid the potential sale.
Michele Kang and Ares Capital express interest in Lyon takeover
Lyon are likely to be sold by current owners Eagle Football Group. The holding has released a statement this Tuesday to announce the creation of a committee that will act as a safeguard to prevent any conflict of interest, given that Ares Capital and Eagle Football Group CEO Michele Kang – who currently manage the Paulo Fonseca-led Ligue 1 side – have expressed an interest.
“The Committee will be responsible for overseeing the administration process in the interest of the Company“, Eagle Football Group’s statement reads. The Lyon owners will also propose the appointment of an expert, who will issue a recommendation “regarding the merits of a potential tender offer for the Company, its shareholders and its employees.“
Last month, British company Cork Gully seized control of Eagle Football Holdings Bidco Limited, the holding that owns of Lyon’s shares, in order to prevent it from going bankrupt, which led to John Textor’s exit.
GFFN | Bastien Cheval
Q&A
What is the current ownership status of Lyon and who is interested in the takeover?
Lyon is currently owned by Eagle Football Group, and Michele Kang along with Ares Capital have expressed interest in a takeover.
What actions has Eagle Football Group taken in response to the takeover interest?
Eagle Football Group has created a committee to oversee the administration process and prevent conflicts of interest regarding the potential sale of Lyon.
