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SBD Global/January 24, 2014/Franchises

Singapore Billionaire Peter Lim's Bid To Buy Valencia Turned Down By Club's Lender

La Liga side Valencia's lender, Spanish bank Bankia, has "chosen the offers that will advance to the second stage of the bank's operation to sell Valencia," according to S. Aspas of EL MUNDO. Singapore businessman Peter Lim's offer is not "among those still under consideration." Among the finalists, "sources close to the operation are speaking of only two offers still under consideration." Sources said that when Lim presented his offer, he "skipped the step of having his offer filtered by accounting firm KPMG." Lim also "failed to name the guarantors of his purchase." The "documents presented by Lim were not sufficient to complete the technical form demanded as much by KPMG as the bank, which was an indispensable requirement" (EL MUNDO, 1/23).
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