The deal was signed yesterday evening in Parma, at the notary Almansi’s office, thus making the market share of Parma Calcio held by Desports rise up to 60% after almost a year of negotiations.
The transaction started before the Summer, when the Chinese of Desports – a leading company in the international sport marketing sector and shareholder of Granada CF, Minnesota Timberwolves and Chongqink Dandai Lifan F.C. – had entered the share capital of the club by signing a capital increase dedicated to them. Yesterday they then acquired the total control of the football club from Nuovo Inizio, an investee SPV in which some important entrepreneurs in Parma hold shares.
The Italian Consortium which saved and brought back the club to the professional football will still be present with a significant minority block of shares.
The founder and CEO of Desports, Mr. Jiang Lizhang, was nominated President of the Club upon conclusion of the transaction.
LCA Studio Legale, with a team lead by Mr. Andrea Messuti and supported by Mr. Giuliano Proietto, together with Mr. Michele Belli of the homonymous law firm in Parma, have assisted Nuovo Inizio and the football club in the negotiation of the investment agreements, in the structure of the future governance and in all the other regulatory and authority aspects involved in the transaction.
The Chinese of Desports were assisted by the Shanghai team of AllBright Law Office.
