Expert insight | New changes on UEFA EUROs: growing maturity of Hisense and other Chinese brands
22 Jul 2024 19:18
IDG Capital Partners, a Chinese investment fund, has agreed to acquire a 20% stake in French soccer club Olympique Lyonnais (OL).
According to various reports, IDG is set to invest €100 million in buying shares and convertible bonds of the club owner, the OL Group. In addition, a substantial part of the investment will be used to reduce debt so as to cut the corresponding financing costs and enable the group to refinance its debt.
Under this deal, the Chinese invetment fund has promised to hold the group's shares for at least two years. It will get two to three seats on the OL Group's board.
The two sides are looking to set up a a joint venture in China to grow the club's presence and to bring its advanced youth training system to the country. IDG will hold a 55% stake in the venture and OL Group will take the remainder.
Source: Global Times
Proofread by Sean O Diobhilin
Expert insight | New changes on UEFA EUROs: growing maturity of Hisense and other Chinese brands
22 Jul 2024 19:18
Interview with Andreas Zagklis: to keep popularization of basketball with all-round strategy
08 Jul 2024 16:14
Related coverage
Chinese sponsor of Segunda Liga drops plans
28 Jan 2016
Lanqiuke secures ¥3M in Angel series financing round
08 May 2017
CSEM wins sports town construction project with RMB 2.4 billion bid
08 Nov 2017
Shijiazhuang picking up pace in sports industry
11 Oct 2017
China Sports Culture EXPO and China Sports Tourism EXPO Will Be Held at Guangzhou
18 Sep 2020
More from Yutang Sports
Hisense Named Official Partner of FIFA Club World Cup 2025
01 Nov 2024
The United States Tops Skema Publika's First Annual Sport and Soft Power Ranking
27 Mar 2025
Expert insight | New changes on UEFA EUROs: growing maturity of Hisense and other Chinese brands
22 Jul 2024
SPORTACCORD confirms Istanbul as Host City for 2025 Convention
13 Mar 2025
Yutang Sports
loading...