Yeung inches closer to takeover

Published Add your comment

Carson Yeung has moved closer to completing his takeover of Birmingham after his company, Grandtop International Holdings, increased their share capital in the midlands club to 81.7%.

Grandtop announced on Wednesday they have received "valid acceptances" in respect of purchasing a further 42,211,337 of City's shares. This represents approximately 51.8% of the current share capital.

Hong Kong businessman Yeung was already the major individual share-holder after buying a 29.9% in the club - 24,375, 975 shares - during the summer of 2007 when he first revealed his interest in taking control of Birmingham.

The deal is expected to be formally completed in early October and will bring an end to co-owner David Sullivan's official involvement with the club after 16 years - plus managing director Karren Brady. But fellow co-owner David Gold is set to continue as part of the new regime as chairman.

Copyright (c) PA Sport 2009, All Rights Reserved.

Do YOU want to write for GiveMeSport? Get started today by signing-up and submitting an article HERE:

Premier League

Article Comments

Report author of article

Please let us know if you believe this article is in violation of our editorial policy, please only report articles for one of the following reasons.

Report author


This article has been written by a member of the GiveMeSport Writing Academy and does not represent the views of or SportsNewMedia. The views and opinions expressed are solely that of the author credited at the top of this article. and SportsNewMedia do not take any responsibility for the content of its contributors.

Want more content like this?

Like our GiveMeSport Facebook Page and you will get this directly to you.

Already Subscribed to Facebook, don't ask me again

Follow GiveMeSport on Twitter and you will get this directly to you.

Already Following, don't ask me again

Like our GiveMeSport Page and you will get this directly to you.

Already Subscribed to G+, don't ask me again