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SBD Global/June 4, 2014/FranchisesPrint All
Singapore businessman Peter Lim's purchase of La Liga side Valencia is "entering its final phase," according to Conrado Valle of AS. A "principle agreement" between Lim's company, Meriton, and lender Bankia was expected to be announced on Tuesday. Lim is expected to acquire a 70% stake in the club from majority shareholder VCF Foundation after "finalizing the conditions of the payment of the club's debt." A "bureaucratic approval process will now begin between the VCF Foundation and the Board of Valencia Shareholders over the share transactions" (AS, 6/3).