Hong Kong businessman Carson Yeung has bought a major stake
in Birmingham City, but he will not complete a takeover of the
Midlands club.
Yeung has concurred on a deal that sees him acquire 29.9 per cent
of club's shares, after striking deals with Birmingham directors
David and Ralph Gold, David Sullivan (pictured), Karren Brady and
Roger Bannister.
The Golds and Sullivan have agreed to sell 14.81 per cent of the
club's shares to Grandtop International Holdings Limited, while
Brady has agreed to part with 0.23 per cent, with Bannister
agreeing to sell 0.05 per cent.
All shares are to be priced at the ordinary share capital of 61.331
pence.
Yeung's significant investment in Birmingham is just the latest in
a series of deals that have seen a number of Premiership clubs
benefit from foreign backing.
Although Birmingham have stressed that a full-scale takeover will
not take place, it has been speculated that Yeung will look to
increase his stake in the club.
Should he acquire a further 30 per cent then he would be in a
position to bid for complete control.
A statement to the stock exchange read: "Shareholders should be
aware that there is currently no indication at this stage that a
formal offer will be made for the company as a whole but
discussions are continuing with GIHL which may or may not lead to a
cash offer being made for the company in due course."
