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SBD Global/August 16, 2013/Finance

Leeds United Owner Quietly Sells Off More Than Half Its Stake In Club

Dubai-based investment firm GFH Capital, which bought League Championship side Leeds United in December, "sold more than half of its 100 percent holding less than six months later," according to de Sa'Pinto & French of REUTERS. GFH Capital, a subsidiary of Bahraini Gulf Finance House, offloaded a 10% stake to Bahrain-based Int'l Investment Bank earlier this year. Its second quarter financial statement showed that "it had now sold a total of more than half the shares." The statement "did not say who the buyer was," specifying only that it had made a gain of $776,000 on the sale and was "now deconsolidating Leeds results from its own." GFH "could not be reached for comment on Thursday." The company paid £52M ($80.4M) last year to buy Leeds from previous Owner Ken Bates (REUTERS, 8/15).
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