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

More of the games that matter

Upgrade in minutes or watch with a NOW TV Day Pass.

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.

TEAMtalk Facebook Fan Page

The TEAMtalk fan page is a great place to meet like minded people, have football related discussions and make new friends.

Related News

Most Commented

Readers' Comments

D

on't go to England at your age, you'll either be mugged or not appreciated. Or made to lump the ball long to a bloke who looks like a mascot.

megabrow (cufc)
Beckenbauer warns Schweinsteiger

F

rom the headline I presumed he meant boots, pants, jim-jams, toothbrush and paste, passport, tickets, premier inn long-term package, Scouse-English-Portuguese-German dictionary, 'How to be a 9 and 3/4' by B. Rodgers, few dozen tins of food and Evian because you can never be sure about the local food/water...

KevinBoatang
Firmino has 'everything' for PL - Willian

H

e looked like he was playing with a plastic pound shop ball in the wind against Juve, his passing was so bad.

paddy7s
Sergio Ramos: Exactly What United Need

Footer 365

Palace confirm Cabaye talks

Crystal Palace co-chairman Steve Parish has confirmed the club are in talks to sign Paris Saint-Germain midfielder Yohan Cabaye.

Tottenham 'agree' Alderweireld deal

Tottenham have agreed a deal for Atletico Madrid central defender Toby Alderweireld, according to reports in Italy.

Liverpool linked with Balde Diao swap

Liverpool are in talks with Lazio over a player-plus-cash deal for striker Keita Balde Diao, according to reports in Italy.

Mail Box

Has Everyone Forgotten About Khedira?

Sami Khedira is one of the signings of the summer and yet he's flown completely under the radar. Plus Dommy S's views of women's football get a right old shoeing...

Women's Success Won't Alter Viewing Habits

The Women's World Cup hasn't inspired everyone. Also in the Mailbox: a plastic's guide to Brazil, Nani regrets, tears over Henry, and The Beach Boys...

© 2015 Sky Ltd. All Rights Reserved A Sky Sports Digital Media company