Chinese buyers including materials company Amer Int'l and CITIC Securities are "readying" a rival £246M ($308.6M) bid for Premier League side Southampton, a person with knowledge of the plans said, according to Rutherford & Jourdan of REUTERS. The bid for the club "marks a potential challenge to an earlier planned acquisition by Lander Sports Development," which said in January that it was "
taking a stake in the club." The new bid comes as China's government has "ramped up scrutiny of outbound deals and capital outflows," with some dealmakers saying that Chinese firms are "unable to finalise investment plans because they cannot get Beijing's sign-off." Lander declined to comment. Amer Int'l did not immediately respond to requests for comment. A CITIC Securities spokeperson said in a written comment that the firm was "not yet involved in any investment of this kind." The new consortium, which also includes other private investors, was looking to buy 100% of the club for close to 2.1B yuan ($305M), the person added (
REUTERS, 2/23). In London, Hope & Morshead reported CITIC Securities drafted the terms of a takeover bid and is "set to make a formal approach once the club's period of exclusivity with Lander Sports Development expires at the end of this month." Several groups are looking for a way into the Premier League, and there is a "queue of investors bidding to open talks" with club Owner Katharina Liebherr, including three Chinese firms and one American. State-owned CITIC Securities is "hoping to jump to the front of that queue by presenting the term sheet" of its £225M ($282M) offer. It is understood that British-based mergers and acquisitions advisory firm Blackbridge Cross Borders is "acting as an intermediary" and talks have already taken place in London, with Swiss financial services company UBS acting for the Liebherrs (
DAILY MAIL, 2/22).
