Pallotta signs, AS Roma passes to the Friedkin Group, a 591 million euro operation

2020-08-06T07:40:19.525Z

Rome passes to Dan Friedkin. During the night, the president of Rome, James Pallotta, signed the binding agreement for the sale of the controlling interest in the Giallorossi company to the Friedkin Group. The deal is valued at around 591 million euros and is expected to close by the end of August. This is the official press release published on the club website: "AS Roma SPV, LLC ('AS Roma SPV'), majority shareholder of AS Roma SpA (the 'Club'), announces the signing of a binding share purchase agreement with The Friedkin Group, Inc. ('Friedkin') under which, among other things, AS Roma SPV will transfer its controlling interest in the Club and related activities to Friedkin, including the funds it has made available to the Club to support its expected capitalization, and Friedkin will assume certain liabilities relating to the Club (the 'Transaction'). The Transaction will be carried out through a transfer to Friedkin of the entire equity investment held by AS Roma SPV in the Club equal to 86.6 % of the Club's share capital, of which a direct stake of 3.3% of the Club's share capital and an indirect stake of 83.3% held by AS Roma SPV through its subsidiary NEEP Roma Holding SpA ('NEEP' ), for a purchase price of Euro 0.1165 per share. More generally, the Transaction envisages that Friedkin acquires, in addition to 100% of the share capital of NEEP, also 100% of the share capital of ASR Soccer LP Srl and 100% of the share capital of ASR Retail TDV SpA The Transaction is valued at around 591,000,000 euros. The Transaction is expected to close by the end of August 2020 and is subject to standard conditions for this type of transaction. "The press release continues:" Under certain conditions, AS Roma SPV has the right to terminate the agreements signed and retain the amount paid in guarantee deposit as termination fee, in the event that the Transaction does not end by August 17, 2020 or before that date, and this term is not extended by AS Roma SPV. Furthermore, subject to certain conditions, both AS Roma SPV and Friedkin have the right to terminate the agreement signed without retaining any termination fee, in the event that the Transaction is not concluded by August 31, 2020. The completion of the Transaction will entail the obligation for Friedkin to launch a mandatory public offer on the outstanding shares of the Club (which represent approximately 13.4% of the Club's share capital) pursuant to the applicable laws and regulations. " now ex-president James Pallotta and the new owner. The first, after the announcement to Consob, said: "I am happy to confirm that we have reached an agreement with the Friedkin Group for the sale of AS Roma. Tonight we signed the documents and in the next few days we will work together to complete the formal and legal path that will lead to the change of hands of the Club. In recent months, Dan and Ryan Friedkin have shown total dedication in wanting to finalize this agreement and to guide the Club positively. I'm sure they will be great future owners for AS Roma. "Dan Friedkin, Chairman and CEO of The Friedkin Group said:" We all at the Friedkin Group are happy to have taken the necessary steps to become part of this city and iconic clubs. We can't wait to close the purchase as soon as possible and immerse ourselves in the AS Roma family. "