FL Entertainment N.V. and Pegasus Entrepreneurial Acquisition Company Europe B.V., a special purpose acquisition company focused on European growth companies, announced that they have entered into a definitive business combination agreement that will result in the listing of FL Entertainment on Euronext Amsterdam. Upon closing of the transaction, the combined company will be named FL Entertainment and will be led by Stéphane Courbit as Chairman and François Riahi as CEO.
Stéphane Courbit, Chairman of the board of FL Entertainment (the ”FLE Board”) and founder of Banijay said:
“Achieving a public listing of FL Entertainment through this partnership with Pegasus Entrepreneurs is a milestone in the history of our group. As a result of the transaction, the group will benefit from a robust balance sheet and will be very well positioned to capture growth in the entertainment industry. FL Entertainment is all about partnership, and I am pleased to welcome Pegasus Entrepreneurs and its sponsors as shareholders to our strengthened partnership with Vivendi, SBM International, Fimalac and De Agostini, our existing shareholders in Banijay Group and Betclic Everest Group who have given us their full support to make FL Entertainment even more powerful. One of the key strengths of FL Entertainment is its management team: François Riahi as CEO of FL Entertainment, Marco Bassetti as CEO of the Banijay Group and Nicolas Béraud as CEO of the Betclic Everest Group. Both Marco and Nicolas have developed their businesses with tremendous success so far and will continue to do so in the new structure, supported by a talented team.”
Pierre Cuilleret, sponsor and CEO of Pegasus Entrepreneurs, and future member of the FLE Board said:
“Pegasus Entrepreneurs was created by long-term investors with the objective of partnering with an entrepreneur-led European company with a track-record of achieving profitable growth, and the potential to accelerate growth and create value with access to our expertise, network and listing platform. We could not dream of a better opportunity than partnering with FL Entertainment and Stéphane Courbit to achieve our objective on behalf of our shareholders. The proposed business combination with FL Entertainment benefits from strong support from our shareholders and investors, as evidenced by unprecedented level of non-redemption commitments already received, as well as the largest ever PIPE raising by a European-listed SPAC. We look forward to the next stage of FL Entertainment’s growth and value creation.”