Leeds chairman buys £48m stake in Gulf parent

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Yorkshire Post 12/11/13
by Leon Wobschall
LEEDS UNITED chairman Salah Nooruddin has purchased a significant 5.7 per cent stake in the club’s parent company Gulf Finance House (GFH).
The Bahraini businessman, appointed as United chairman in July, will join GFH’s board of directors following the stake acquisition, a statement from GFH confirmed.
No purchase price was given in the statement, but at Monday’s closing share price, the stake would be worth around 28.9 million dinars ($76.6m).
In sterling, that equates to £48.1m.
The main drive behind Nooruddin’s decision was the potential business value of GFH and the bank’s trading performance, a GFH statement read.

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