Friday August 7 2020
Official: Friedkin Group pay 591m for Roma

Roma and The Friedkin Group have released a joint statement confirming the cost of the takeover from James Pallotta is €591m, including the cost over covering their debt.

As the Giallorossi are floated on the Italian stock exchange, they are forced to release statements to the CONSOB.

This confirms they “might also be aimed at delisting Team” – in other words, taking Roma off the stock exchange.

“The Friedkin Group wishes to reconfirm its intention to support the financial needs of the Team, including by subscribing for at least an amount equal to the Team shareholders’ loans which reflect the anticipated share capital increase of the Team.

“Once it has acquired control of the Team, TFG will finalize the final timing and size of such share capital increase.

“AS Roma SPV would like to specify that it has ascribed an enterprise valuation to the overall transaction of approx. Euro 591 million considering all of the assets of AS Roma SPV (including the Team) and more specifically attributing to the Team a valuation of approximately Euro 549 million constituted as follows:

“An aggregate equity value of Euro 73,264,790 determined based upon the Team per share Price times the 628,882,319 shares outstanding; plus

“Euro 413,079,520 of assumed Team indebtedness, including the Team Shareholders’ Loans (extended by AS Roma SPV for an amount of Euro 111,079,520) in order to fund the already approved rights issue for up to Euro 150 million; plus

“Expected working capital requirements of approx. Euro 63 million.”