IDG to buy stake in French club

The Myanmar Times - - Business -

CHI­NESE in­vest­ment fund IDG Cap­i­tal Part­ners is to take a 20 per­cent stake in the hold­ing group that owns French Ligue 1 foot­ball club Olympique Ly­on­nais.

The fund will pay 100 mil­lion eu­ros (US$112 mil­lion) for the stake, which will be used to help re­duce debt, partly in­curred from build­ing a new sta­dium, it said.

Un­der the deal, the OL brand will be pro­moted in the Chi­nese mar­ket.

The an­nounce­ment marks the lat­est move in Europe’s foot­ball sec­tor by Chi­nese in­vestors.

Other prom­i­nent pur­chases have been made at Manchester City, West Bromwich Al­bion, As­ton Villa, Wolver­hamp­ton Wan­der­ers, Atletico Madrid, AC Mi­lan, In­ter Mi­lan and Slavia Prague.

Lyon en­joyed great success dur­ing the first decade of the 21st cen­tury, win­ning the Ligue crown 1 seven times in suc­ces­sion and reach­ing the semi-fi­nals of the Cham­pi­ons League in 2010.

They fin­ished run­ners-up to Paris Saint-Ger­main in the 2015-16 sea­son in Ligue 1. –

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