FL Entertainment is a global and entrepreneur-led entertainment company combining two complementary and successful businesses in digital entertainment market segments with high growth potential: Banijay Group and Betclic Everest Group. FL Entertainment will go public on Euronext Amsterdam via a SPAC merger with Pegasus Entrepreneurial Acquisition Company Europe ("PEACE").

Besides the business combination and a PIPE investment, the transaction consists of an equity roll-over of the co-investors in the Banijay Group (being Vivendi, Fimalac and De Agostini) and the Betclic Everest Group (being SBM International). Following the transaction Vivendi will be a direct shareholder in FL Entertainment with an interest of ~19%.

The Loyens & Loeff team acted as Dutch law advisers to Vivendi on this transaction.