Bahrain's GFH agrees part sale of Leeds United stake

The deal was agreed with British investors, whose details the firm has not yet specified
Bahrain's GFH agrees part sale of Leeds United stake
(Getty Images - Photo for illustrative purpose only)
By Staff writer
Wed 15 Jan 2014 09:58 AM

Bahrain-based investment firm Gulf Finance House (GFH) has agreed a partial sale of its stake in English soccer club Leeds United, the firm said in a statement on Wednesday, Reuters reported.

GFH said the sale was agreed with British investors, whose details the firm did not specify in a bourse statement. The investment firm did not provide details on the stake value or the size of the stake sold.

GFH bought Leeds United in December 2012 through its Dubai-based subsidiary, GFH Capital, but its financial statements showed that the firm disposed off more than half of its holding less than six months later.

In November, the club's former captain, confirmed he had been part of a consortium looking to buy into the club. South African Lucas Radebe, who played for the second tier side between 1994 and 2005, was part of a group that saw a bid to acquire a stake in the club rejected by owner GFH Capital.

"I can confirm that I am part of a consortium which has submitted a preliminary indication of interest regarding the acquisition of a stake in Leeds United,” Radebe said in a statement on his official website.

"We would like the opportunity to explain both the substance of our proposal, and our strategy for working with GFH Capital to continue the rebuilding process at the club," he added.

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