Currency Converter

Enter amount in full numerical value, without currency symbol or commas (ex: 3000000).


SBD Global/July 16, 2014/Franchises

Carlos Slim's Grupo Pachuca In Talks To Acquire Colombian Side América De Cali

Carlos Slim's Grupo Pachuca in talks to acquire Colombian side América de Cali.
Mexican conglomerate Grupo Pachuca is holding conversations with Colombian second division side América de Cali with the goal of "acquiring the club or becoming a majority shareholder," according to Felipe Monforte of MARCA. The interest in América de Cali is related to billionaire Carlos Slim's Grupo Pachuca's expansion. Slim also owns Colombian telecom Claro and "he has not hidden his desire to acquire América." Sources said that the negotiations are "nearing a conclusion." The club, which won five consecutive first division championships in the '80s, has been in Colombia's second tier since '11. Since April, "the club's contact with investors has intensified, including its first serious meeting with Slim's conglomerate." Should Grupo Pachuca "complete the takeover, it would make a quantum leap internationally and situate itself in a country with a historic football tradition" (MARCA, 7/14). TERRA reported Grupo Pachuca's interest in acquiring América de Cali "has been known for more than a year," but just days ago the conglomerate "again inquired about taking over the club." In addition to acquiring a majority stake, "Grupo Pachuca would provide massive economic injection to improve the team as it looks to earn promotion." More than a year after "their first attempt to buy the club, Pachuca execs are again looking to buy the club." Former Grupo Pachuca President Jesús Martínez said more than a year ago, "We want to look to Colombia for our next expansion because we see a great opportunity to instill our philosophy in the future, but not now." Grupo Pachuca currently has four teams in its power: Liga MX sides Pachuca and León as well as Mexican second division side Mineros de Zacatecas and Spanish side Real Oviedo (TERRA, 7/15).
Return to top

Related Topics:

Franchises, South America

Video Powered By - Castfire CMS Powered By - Sitecore

Report a Bug