M&AConsumerSIGNED
Scranton Sells Joventut de Badalona to Lithuanian Group with Ricky Rubio Joining Capital
Acquirer
Lithuanian investor group and Ricky Rubio
Target
Joventut de Badalona
Scranton has sold Joventut de Badalona to a Lithuanian group, with Ricky Rubio entering the club's capital. The holding linked to the Grifols family had originally taken control of the Catalan entity in 2018 when it was on the verge of liquidation.
✦ Meridian Analysis
Scranton Enterprises, the holding company linked to the Grifols family, has signed an agreement to sell the Catalan basketball club Joventut de Badalona to the Lithuanian investment group Confluence Valley, the owner of Žalgiris Kaunas.
The deal transfers the majority of the club’s equity to Confluence Valley, which becomes the new controlling shareholder, while Ricky Rubio acquires a minority stake in a parallel transaction.
Scranton, which took control of the club in 2018 when it faced liquidation and subsequently raised its holding to 86 %, will retain a small financial interest and remain a minority partner.
The mechanics are a straightforward share purchase that changes control of the sports entity.
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