HAMBURG: Miami-based private equity firm H.I.G. has announced that its European affiliate has signed a definitive agreement to acquire a majority stake in Lagardère Sports in a transaction from French media conglomerate Lagardère Group.
Lagardère announced plans in December to sell 75% of its sports business to H.I.G in a deal valuing the agency at €110 million (US$118 million).
The Lagardère Group will retain a minority shareholding of 24.9%. The transaction is subject to clearance by the relevant antitrust authorities.