Lagardere SCA: Press Release
December 15 2019 - 4:46PM
Business Wire
Regulatory News:
Following the decision by CAF to unilaterally cancel its agency
agreement with Lagardère Sports (Paris:MMB), Lagardère, in
accordance with the contractual provisions, initiated emergency
arbitration proceedings – aimed at keeping the contract in force
pending the arbitration on merits – before the International
Chamber of Commerce (ICC) in Geneva.
On December 13th, while the emergency arbitrator rejected these
interim measures, he did not rule on the merits of the case as this
was not within his remits.
Consequently, the outcome of the emergency proceedings does not
in any way predetermine the outcome of any future arbitration on
the merits of the case.
Under these conditions, Lagardère will steadfastly continue as
planned to proceed with the broader, more encompassing arbitration
(arbitration on merits) to obtain compensation from CAF.
Lagardère Sports is an established, respected company that has
served CAF for many years with efficiency, loyalty and dedication,
working collaboratively to grow African football and bringing the
games to thousands of new fans each year. As such, the Lagardère
group deems the actions of CAF to be unwarranted and will take all
action at its disposal to defend its interests, mitigate the impact
of any immediate harm to its business and protect the interests of
its shareholders.
About Lagardère Sports:
Lagardère Sports and Entertainment is a leading sport and
entertainment agency, with a global network of local experts
dedicated to delivering innovative solutions that meet our clients’
needs. We believe sport and entertainment inspire emotions and
passion that are essential to enrich people’s lives and generate
powerful collective experiences. At Lagardère Sports and
Entertainment, we dedicate our expertise and passion to provide our
clients with privileged access to the infinite opportunities of
sport and entertainment. Lagardère Sports and Entertainment has
more than 1,700 employees worldwide and 50 years of experience in
sport.
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version on businesswire.com: https://www.businesswire.com/news/home/20191215005033/en/
Edelman for Lagardère Sports James Francis +44 (0)7812 734731
Lagardere-se@edelman.com
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