Banijay, the company behind the series Survivor Y kitchen master, Published in agreement with SPAC Investment Group.
As a result of the deal, Banijay chairman Stephen Curbit will take over the company and online sports betting group Betclic through publicly traded FL Entertainment. The deal is backed by investors such as Bernard Arno and Vincent Bolore.
FL Entertainment Group will have an entrepreneurial cost of €7.2 billion ($7.6 billion) or €4.1 billion in capital. Share trading on Euronext will begin on July 1 in Amsterdam.
The company said FL Entertainment has “a compelling opportunity” as a publicly traded company “due to both anticipated growth and ample opportunities for the consolidation of its two businesses”.
FL Entertainment will merge with SPAC Pegasus Entrepreneurs, backed by European asset management firm Tikehau Capital and investment firm Financière Agache. Existing shareholders, including Vivendi, have agreed to reinvest in the new company.
Curbit described the move as a “landmark” for the group. ““As a result of the transaction, the group will have a strong balance sheet and will be very well positioned for growth in the entertainment industry,” he said.
Banijay owns more than 120 manufacturing companies in 22 countries, including Endemol Shine in North America, which it acquired as part of a major merger. Დit was bro manufacturer in 2020.
“By founding FL Entertainment “Pegasus Entrepreneurs, Stephen Curbit, our President, has created new opportunities for Banijay to grow and maintain a stable position in the market,” said Mariju Bassetti, Banijay CEO. “In line with the ESG gold standard and business excellence goals, we are further developing our listing offer and we are all proud of our efforts. [Courbit’s] The biggest team in the LOV Group to reach this important milestone.
Source: Deadline
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