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SISU nears 90-percent mark in takeover of Coventry City
England - 10 January, 2008
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English Coventry City is close to formally having new ownership as SISU is about ready to finish its deal for the club.
SISU is approaching 90 percent of the shares in the club. A deal was struck 14 Dec. to avert administration for the club.
Ray Ranson, who spearheaded the effort for SISU, told the club's website that the amount of acceptances toward SISU's offer has delighted the group.
"Although our offer cannot be made unconditional until we have reached the 90-percent threshold, we feel we are close enough to make our position public," Ranson said.
The new group must face debts that crossed the GBP 37 million mark.
SISU is approaching 90 percent of the shares in the club. A deal was struck 14 Dec. to avert administration for the club.
Ray Ranson, who spearheaded the effort for SISU, told the club's website that the amount of acceptances toward SISU's offer has delighted the group.
"Although our offer cannot be made unconditional until we have reached the 90-percent threshold, we feel we are close enough to make our position public," Ranson said.
The new group must face debts that crossed the GBP 37 million mark.
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