The European Commission has approved US-based private equity group Colony Capital’s proposed acquisition of a stake of around 30 per cent in Colfilm, the holding company of French football club Paris Saint-Germain.
The purchase was cleared under the EU's 'simplified' merger review procedure for cases which the commission believes do not pose competition concerns.
The shares are being sold for an undisclosed sum by private equity firms Butler Capital Partners and FCPR France Private Equity, and will give Colony joint control over Colfilm, along with Colyzeo Investors LP and Morgan Stanley. Colfilm owns Holdings Sports & Evenements SA., Paris Saint-Germain Football SA. and Societe d'Exploitation Sports et Evenements SA.
On the pitch, Paris Saint-Germain are in the relegation zone in the French Ligue 1, three points from safety with only four matches to go. The club’s dire season prompted the resignation on Monday of club president Alain Cayzac.
Tags: PSG European Commission
