FRANCE - Colony and Butler buy Paris St Germain from Canal+

Colony Capital and Butler Capital Partners (BCP) have purchased the football club Paris St Germain (PSG) from Canal+ for EUR 41m. Colony has invested via Colyzeo, which formed in partnership with cornerstone investor Eurazeo. The private equity houses have been joined by international financial service provider Morgan Stanley. Each investor has acquired a 20% stake, while the remaining 40% is currently held by management, but expected to be put up for sale in the coming months. Executive manager Alain Cayzac has become CEO and shareholder in the company. He attempted a take-over of the club in 2005 together with former CEO Francis Graille, but Canal+ blocked the move and Graille was dismissed.