|Hong Kong Buyer in Talks Over Birmingham CIty Takeover|
|Football / Soccer|
Sunday, 25 November 2012 21:54
English Championship side, Birmingham CIty may have new owners soon after the club's parent company confirmed they were locked in negotiations with a potential buyer in Hong Kong.
The news will come as a further blow to the UK consortium led by Gianni Paladini, which has made a £30m bid for the Championship side.
Birmingham City acting chairman Peter Pannu denied, earlier this month (16 November), that the club was in any active negotiations with Paladini's consortium.
He urged supporters of the club to only rely on formal announcements on the Hong Kong Stock Exchange about the future ownership of the side.
In October, the owner of Birmingham City confirmed it had been approached by several prospective buyers for the club.
"Given the fact that confidential non-disclosure agreements had been entered into with three of the parties who are still in pursuit, two in Hong Kong and one in the UK, it is inappropriate to divulge detailed information of the status of the negotiations," Birmingham International Holdings Ltd said in a statement to the Hong Kong Stock Exchange this afternoon.
The company added: "The negotiation with one of the parties in Hong Kong is at an advanced stage, although no conditional binding agreement had 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."