Blues takeover 'on track'

Published Add your comment

Football News

Carson Yeung remains confident of completing his takeover of Birmingham in the next few weeks.

Hong Kong businessman Yeung has secured a £57million bridging loan to enable him to finance the deal.

He needs permission from backers to issue 50% more shares in his company Grandtop International Holdings via an extraordinary general meeting now scheduled for early October.

But a spokesman for Yeung claimed this will not affect the deal going through, although there may be a "slight" delay from the original target of mid-October.

He said: "We are all waiting to complete the procedures and regulations in terms of the takeover in relation to the Hong Kong Stock Exchange.

"The lawyer has told us it will take time but I don't think it will be that late before it happens and could even still be on schedule.

"We were expecting originally for it (the takeover) to happen in early to mid October and we should be near to completing the deal by the original timing.

"The deal won't change. The timing may slightly - but that is all.

"We've had the AGM today (of GIH) and there are documental type things to be completed. No-one in Hong Kong has ever bought a major football club in England before."

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

Read more

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