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Blues in 'advanced' takeover talks

27 May 2014 14:46:53

Blues in 'advanced' takeover talks

Birmingham have confirmed that they are in 'advanced discussions' with a British consortium over the sale of the club.

Birmingham International Holdings Limited (BIHL), the holding company of the football club, made an announcement to the Hong Kong Stock Exchange (HKSE) over the course of the weekend.

The acting chairman of the Championship club, Peter Pannu, issued a statement revealing that a UK bidder, with a very strong North American investment fund, was in talks with BIHL.

Pannu stated there had been an indicative, non-binding offer from a third party, in relation to a possible acquisition of a minority interest in Birmingham City PLC.

Via a statement on the club's official website, Pannu said: "I can confirm that BIHL remains in advanced talks with a British consortium with a very strong North American investment fund.

"However, specific details cannot be disclosed at this moment in time due to non-disclosure agreements and HKSE regulations. There are many technical issues still to be resolved and legal representatives from both parties remain in advanced discussions to pave the way forward."


PA

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