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Chinese Tech Company Rastar Completes Takeover Of La Liga Side Espanyol

Ownership of La Liga side Espanyol "will officially change hands on Tuesday," according to Juan Carlos Gracia of SPORT. Chinese technology group Rastar will acquire 56.2% of the club's shares "after an operation that was completed this weekend." The new development will be that Rastar Founder Chen Yansheng will become the president of Espanyol. The sale agreement "has advanced by leaps and bounds after the purchase of the shares and the negotiations to restructure the debt have come to fruition." Rastar will incorporate various legal and financial personnel into Espanyol and the signing of a new director general is being considered (SPORT, 1/18).

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