Bahrain's GFH says 5.71% stake sold to Leeds Utd chief

Arabian Business 12/11/13
Bahrain-based investment firm Gulf Finance House (GFH) said on Tuesday that a family consortium led by chairman of English soccer team Leeds United had bought a 5.71 percent stake in the company.
Salah Nooruddin, a Bahraini businessman, will join GFH's board of directors following the stake acquisition, subject to regulatory approval, a bourse filing said.
No purchase price was given in the statement. However, at Monday's closing share price, the stake would be worth around BD28.9m ($76.6 million), according to Reuters calculations.
GFH Capital, a Dubai-based unit of GFH, bought Leeds United last year for £52m and subsequently sold some of its stake to investors including Envest Limited, a firm owned by Nooruddin and his wife.
Nooruddin was named chairman of the soccer club in July.

Popular posts from this blog

The huge initial fee Leeds are set to receive for Crysencio Summerville’s move to West Ham — Leeds United News 31/7/24

Leeds United board break silence after transfer window with statement on upcoming Elland Road development — YEP 2/9/24

Leeds United transfer state of play as Whites knock back low bid and assert wing pair stance — YEP 3/7/24