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SBD Global/March 28, 2013/Franchises

Leeds Owner GFH Capital Stalls On Explaining Team Sale, Exchange Says

Bahrain’s stock exchange said that the Gulf-based owner of League Championship side Leeds United "hasn’t explained conflicting statements made about a possible sale" of the club, according to Tariq Panja of BLOOMBERG. Dubai-based GFH Capital, which bought Leeds less than four months ago, said on the club website last week it was seeking “investment in part of its share,” although not a full sale. GFH’s parent, Gulf Finance House EC (GFH), said in its '12 financial statement released in February it was looking to sell the club within 12 months after securing it as a “bargain purchase.” Bahrain Bourse Trading and Members Affairs Superintendent Shaikha Al Zayani said that the exchange "has been seeking clarification from Gulf Finance House’s compliance officer about the contradicting statements since last week." GFH Capital said in a statement it "remains committed to retaining a substantial part of its investment in Leeds United Football Club. It’s always been a part of the group’s plan to bring on board a group of like-minded investors." Leeds spokesperson Paul Dews said that "he had no immediate comment on the exchange’s observations" (BLOOMBERG, 3/27).
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