Compagnie des Alpes SA (ENXTPA:CDA) signed an agreement to acquire 86.5% stake in Soccer 5 France on March 13, 2024. The consideration consists of ?139.7 million in cash. The acquisition of 86.5% of the equity capital of Soccer 5 France SAS would be based on an enterprise value of ?157 million and a share price of ?129.7 million (for 86.5% of the equity capital), along with a potential earn-out of ?10 million, which would be paid subject to certain conditions in the event of a positive evolution in the tax treatment applicable to the activities of Urban Group.

The value of the remaining equity capital (13.5%) that would be acquired by Compagnie des Alpes in 4 to 5 years would be determined using a method equivalent to that used for the acquisition of the 86.5%. This transaction would be financed using the group?s available cash and/or its lines of credit, ensuring that external or conditional financing will not be required. It will not affect the Group?s debt ratio covenants.

This tentative agreement is without prejudice to the final outcome of the deal. The completion of the acquisition would be subject to agreement of the two parties as to the final legal documentation and to certain conditions precedent.