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Stock impact report

Ares Weighs Joining Bid for French Football Team Lyon [Business News Network (BNN) (Canada)]

Cannae Holdings, Inc. (CNNE) 
Last cannae holdings, inc. earnings: 11/12 06:25 am Check Earnings Report
US:NYSE Investor Relations: cannaeholdings.com
The alternative asset manager is in talks about potentially backing Textor's bid for the French club's owner OL Groupe SA, according to the people, who asked not to be identified because the information is private. Textor has been seeking additional capital after US investor Bill Foley indicated he may significantly scale back his funding commitment to the deal, the people said. Ares said last month it has raised $3.7 billion to invest in sports, media and entertainment, more than twice its original target. The fund, which will invest across the capital structure in both debt and equity, has already made commitments to portfolio companies including Atletico de Madrid football club, McLaren Racing and the San Diego Padres baseball team. OL Groupe announced in June that Textor had entered exclusive talks to buy a majority stake in the company and was aiming to reach a deal as soon as September. The transaction could value OL Groupe at nearly 800 million euros ($797 million). Text Show less Read more
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