Luxembourg, 25 June 2004 – RTL Group and Canal+ Group, a Vivendi Universal subsidiary, today announce the completion of the sale of their interests in Sportfive. Each of RTL Group and Canal+ has received a consideration of EUR 274 million in cash for its respective 48.85 per cent shareholding.
Under the terms of the transaction, funds managed by Advent International, a leading global private equity fund, and RTL Group have formed a new company that purchased all of the shares in Sportfive held by RTL Group and Canal+ Group. RTL Group holds 25 per cent of the new company; the remainder is held by Advent International, Goldman Sachs and the management, with Advent International holding a majority stake.
Jean-Claude Darmon, Chairman and CEO of Sportfive, has decided to leave the company. He will remain as Chairman of the Board of Sportfive SA until 15 July 2004. Philip Cordes, currently Chief Operating Officer, has been appointed as Group Chief Executive Officer and Alain Krzentowski as General Manager of Sportfive S.A.. The other members of the Executive management are: Erika Tertilt, Robert Müller von Vultejus and Thomas Röttgermann.
Sportfive is a major force in international sports rights and the number one in worldwide soccer television rights.
BNP Paribas acted as sole advisor to RTL Group on this transaction.
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