Operator News
France – SBM sells its stake in Betclic Everest Group
By Phil - 16 May 2022
The Société des Bains de Mer et du Cercle des Étrangers à Monaco announced in a press release on Wednesday May 11 that its subsidiary under Luxembourg law Monte-Carlo SBM International concluded an agreement to transfer the entire 47.30 per cent stake it has held since May 2009 in Betclic Everest Group (BEG) to the Dutch company FL Entertainment, chaired by French businessman Stéphane Courbit.
This announcement is part of the merger between Pegasus Entrepreneurial Acquisition Company Europe, a special-purpose acquisition company, and FL Entertainment, a world leader in entertainment through two subsidiaries: Banijay and BEG. This merged entity will be listed on the regulated market of Euronext Amsterdam from July 1.
The press release specifies that “the operation values the share of BEG’s capital held by SBM International at €850m, compared with its initial financial investment of €140m in 2009”. FL Entertainment, thanks to this acquisition, now has an estimated market valuation of €4bn.
Stéphane Courbit justifies this operation by potential opportunities for external growth, both in audiovisual production and in the world of sports betting. He even plans to diversify his activities, in particular towards “casual” video games, which he considers close to the Betclic culture.
This operation to withdraw from SBM International should be finalised on June 30, after approval by the extraordinary general meeting of Pegasus shareholders and subject to the fulfillment of certain conditions precedent.
