Ligue 2 Side Sochaux Acquired By Chinese Manufacturer Ledus For $7.8M

Ligue 2 side Sochaux announced on Monday that it signed an agreement with Chinese company Ledus to sell 100% of the club's shares for €7M ($7.8M), according to XINHUA. Ledus, a Hong Kong-listed electrical components manufacturer, "had contacted the club's previous owners, carmaker Peugeot," in February to propose a "credible project for the club" for "all the issued share capital and voting rights." Sochaux said in a press release, "The terms of this agreement fully meet the objectives set by the current shareholders of looking for a robust and sustainable project, and should enable the FCSM to have financial resources consistent with the legitimate sporting ambitions of the club." Ledus' holding company Tech Pro Technology Development Chair Li Wing-Sang promised last month that he had "no plan to make big changes to the current running structure of the club" (XINHUA, 5/18).