By Julien Pretot and Mimosa Spencer
PARIS (Reuters) – French billionaire and LVMH chairman Bernard Arnault has teamed up with energy drinks company Red Bull to buy a controlling stake in French second-tier soccer club Paris FC, the Arnault family office said on Thursday.
Agache, the Arnault family’s holding company, and Red Bull have entered exclusive negotiations with current owner Pierre Ferracci to buy a majority stake in Paris FC, with Red Bull seeking a minority holding, Agache said in a statement.
It did not provide financial details of the proposed deal.
A takeover of the French club would mark Arnault’s latest foray into sports after LVMH signed a 10-year sponsorship deal with Formula One this month and sponsored the Paris Olympics.
Those moves offer a new global stage to LVMH’s powerhouse labels like Louis Vuitton and Dior, champagne-maker Moet & Chandon and watch brand Tag Heuer.
(Reporting by Julien Pretot and Mimosa Spencer; Editing by Bernadette Baum)
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