Atletico Madrid have announced they intend to sell their stake in French club Lens.

Luxemburger company Solferino is to buy the 34.6 percent share of the 2002 French champions currently held by La Liga giants Atletico and become Lens' sole owners.

Solferino said in a club statement that "an agreement has been reached" and thanked Atletico for having been "by our sides" and "a trustworthy strategic partner" in helping to buy the club from Azerbaijani businessman Hafiz Mammadov in May 2016.

Mammadov had bought the club in 2013 and saved them from going bust by injecting 20 million euros ($23.7m) into the Lens coffers.