Next Game

Huddsf'ld v Birm'ham

Saturday, 20 December 2014, 15:00

Sky Bet Ch'ship

Last Game

Birm'ham 6 - 1 Reading

Saturday, 13 December 2014, 15:00

Sky Bet Ch'ship

Birmingham in takeover talks

Birmingham are at an advanced stage in discussions with a mystery Hong Kong party interested in a takeover of the Championship club.

Last Updated: 23/11/12 at 20:33 Post Comment

Birmingham City: Takeover talks at an advanced stage

Birmingham City: Takeover talks at an advanced stage

The board of Birmingham International Holdings Limited (BIHL), City's parent company, told the Stock Exchange they are in talks with two parties from Hong Kong and one from the UK - believed to be Gianni Paladini's Italian-backed consortium.

The former QPR chairman was understood to be leading the chase, although Blues' acting chairman Peter Pannu last week poured cold water on claims from Paladini that their takeover deal could be agreed within 10 days.

A statement from BIHL read: "As previously announced on September 21 and October 9, the board has been approached by several prospective buyers who had shown interest in the purchase of BCFC, which is the company's sole operating assets.

"Given the fact that confidential non-disclosure agreements had been entered into with three of the parties who are still in pursuit, two in Kong Kong and one in the United Kingdom, it is inappropriate to divulge detailed information of the status of the negotiations.

"The board wishes to inform the shareholders that the criteria that the board shall adopt in this disposal would be to identify a new owner who could take BCFC to the next level both in terms of their financial standing, business acumen and overall suitability and the nature of their offer and the overall terms of the offer.

"A balance will be struck between what is the most beneficial for the shareholders and what is the most appropriate for the development of BCFC as the board acknowledges that football is a business where, inter alia, the aspirations of the fans need to be considered."

The statement added: "The negotiation with one of the parties in Hong Kong is at an advanced stage although no conditional binding agreement has been entered into between the parties.

"The transaction, if it proceeds, will constitute a very substantial disposal transaction by the company under the listing rules and will be subject to the approval of the shareholders in a general meeting.

"A detailed announcement will be made as and when appropriate."

A first offer from Paladini's consortium, believed to be around £25million, was rejected in September.

Meanwhile, current owner and Hong Kong businessman Carson Yeung, who is currently unable to leave the Far East, will still face court on November 28 over alleged money laundering after today seeing a bid to delay the case rejected.

Related News

Most Commented

Readers' Comments

Y

ou mean troll websites Stevie? The kind of ones that are so short on ideas, they have to make the quiz all about one manager's signings..

cogs
Gerrard: 'Criticism is normal'

H

ave to go for Everton myself. Leon Osman looks like everyone's mate down the pub. Leighton Baines can't take himself too seriously with his dodgy haircut. Steven Piennar looks like he'd cry if you were nasty to him. And Tim Howard looks like he'd give you the most perfect man-hug you could ever imagine.

Surrey_Shrimper
Who Has Got The Likeability Factor?

C

heck Opta stats.... Sterling is already better than Alexis on pace and creativity and when he can match him physically he will be ten times the player Sanchez ever was or will be!!

hoggylfc
Rodgers: Sterling can be striker

Footer 365

Liverpool: Gerrard says Rodgers must take criticism on chin

Steven Gerrard says Brendan Rodgers has to take criticism on the chin when "people are trying to kill you".

Steven Gerrard: Raheem Sterling should sign deal and become Liverpool great

Raheem Sterling should commit his long-term future to Liverpool and become an Anfield great, according to Steven Gerrard.

Premier League: Mario Balotelli handed one-match ban for social media post

Liverpool striker Mario Balotelli has been given a one-match ban by the FA after his controversial post on social media.

Mail Box

Gonna Party Like It's Your Birthday...

There are an awful lot of folk claiming to share their birthdays with Lionel Messi or Ronaldo, while we have an Arsenal fan who doesn't want to be liked and more...

Manager Of The Month, My A***...

We have a Newcastle fan having a pop at his manager, some mild reaction to last night at Bournemouth, a justication of that Falcao cost and why the Neviller rules...

© 2014 British Sky Broadcasting Ltd. All Rights Reserved A Sky Sports Digital Media property