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Newcastle United targeted for takeover
England - 22 August, 2006
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England's Newcastle United could be subject to a takeover after the Belgravia Group confirmed interest in the club to the stock exchange.
The Jersey-based investment company released a statement which read: "The Belgravia Group confirms that it is examining the potential opportunity of acquiring Newcastle United plc, which may or may not lead to an offer for the company being made." A spokesman for the group admitted they saw the possible acquisition of Newcastle as "an attractive opportunity" but added that things are at "an early stage and nothing is finalised."
The group has held talks with former club chairman Sir John Hall, who controls 28.8 percent of the club, and his son Douglas, who owns 12 percent. However the 28 percent held by Freddy Shepherd could prove a sticking point as he has previously resisted approaches to sell.
It's the latest Premier League club to be spotlighted for a takeover. Last week the board of the Aston Villa accepted a GBP 62.6 million bid from United States billionaire Randy Lerner.
The group is being advised in the deal by Strand Partners, a boutique London investment bank, The Sunday Times said. Neither Belgravia or Newcastle United could be immediately reached for comment.
The Jersey-based investment company released a statement which read: "The Belgravia Group confirms that it is examining the potential opportunity of acquiring Newcastle United plc, which may or may not lead to an offer for the company being made." A spokesman for the group admitted they saw the possible acquisition of Newcastle as "an attractive opportunity" but added that things are at "an early stage and nothing is finalised."
The group has held talks with former club chairman Sir John Hall, who controls 28.8 percent of the club, and his son Douglas, who owns 12 percent. However the 28 percent held by Freddy Shepherd could prove a sticking point as he has previously resisted approaches to sell.
It's the latest Premier League club to be spotlighted for a takeover. Last week the board of the Aston Villa accepted a GBP 62.6 million bid from United States billionaire Randy Lerner.
The group is being advised in the deal by Strand Partners, a boutique London investment bank, The Sunday Times said. Neither Belgravia or Newcastle United could be immediately reached for comment.
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