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Volume 10 No. 25
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La Liga Side Valencia's Sale Still Lacks Consensus Favorite Among Four Bidders

In the ongoing sale process of La Liga side Valencia, "there is still no consensus" among the parties working together to manage the sale of the club, according to Conrado Valle of AS. The committee, which includes Valencia, majority shareholder VCF Foundation, lender Bankia and the Valencian City Council, "has four bidders to choose from." Of those bidders, the preference of PwC, which is conducting the audit for majority shareholder VCF Foundation, is Singapore-based businessman Peter Lim. PwC's "second choice, according to its analysis, is Chinese multinational Wanda Corp." Valencia's lender, Spanish bank Bankia, "hired auditor KPMG to evaluate the bidders." KMPG "prefers and defends the bid from U.S.-based investment firm Cerberus Capital Management, as well as the bid by Russian business Zolotaya Zvezda" (AS, 5/13).