Birmingham City have confirmed that Carson Yeung, the Hong Kong-based businessman who tried to take over the club in 2007, has begun negotiations to increase his investment in the club and assume a majority shareholding.
In a statement to the Stock Exchange, the club this morning confirmed reports of fresh interest from Yeung’s company Grandtop International Holdings Limited in acquiring further shares.
"The board of Birmingham note the recent press speculation and confirm they have received an approach from Grandtop International Holdings Limited ('Grandtop') - which may or may not lead to an offer for the entire issued share capital of the Company," the statement read.
Yeung, through his clothing firm Grandtop, is the largest individual shareholder, currently owning 29.9 per cent of the club, bought in 2007 from chairmen David Sullivan, and David and Ralph Gold for £15m.
He has always stated his intention to purchase the remaining 46.44 per cent, but he has never followed through, mainly, it is believed, because of funding. However, Yeung has now revived his interest.
"As shareholders will be aware, previous approaches did not proceed - and the issue of the funding of any possible offer will be a major factor in determining how the company responds to the approach," the club said.
“A further announcement updating shareholders will be made when appropriate."
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