Juventus, capital increase from 29 November with option for shareholders

The final conditions of the 400 million transaction have been approved: Exor has undertaken to subscribe its stake for 255 million, a pool of banks will cover any unexercised

The board of Juventus approved the final conditions of the 400 million capital increase, decided to face the losses deriving from the pandemic (and the expenses incurred in recent years) and to support the club in view of new sustainable investments. Starting from November 29, and until December 16, the old shareholders will be able to exercise the option right to purchase the new shares (offered at a discount of 35.32% compared to the theoretical price). The option rights will be tradable on the Euronext Milan market from 29 November to 10 December. The option rights not exercised by the end of the option period will then be offered on Euronext Milan on the dates of the stock market sessions communicated subsequently.

–

Exor and banks

—

The majority shareholder Exor has already made it known that it will underwrite the share capital increase for its share (63.8%), equal to 255 million: 75 was paid in advance at the end of August. At the same time, the guarantee agreement was signed with a pool of banks (Goldman Sachs, Jp Morga n, Mediobanca, UniCredit) which have undertaken to subscribe for any new shares that may have remained unexercised at the end of the auction of the unexercised rights, for an amount of 145 million, ie the difference between the total value of the share capital increase and the share pertaining to Exor.

–