Birmingham City: Carson Yeung deal progresses
Carson Yeung’s £80 million takeover of Birmingham City has hit the accelerator pedal.
The Hong Kong entrepreneur has formally lodged his bid to seize power by sending official offer documents to shareholders.
David Sullivan (24.4 per cent), David Gold (13 per cent) and Ralph Gold (12.5 per cent) had already given an irrevocable undertaking to sell their combined stake in Blues.
Now Yeung, though Grandtop International Holdings, has targeted the hundreds of Blues remaining smaller shareholders as well in an expected move.
He has offered £1 a share and it is hoped that the deal will be completed by the end of October or beginning of November.
The first closing date of the offer is October 6, after which time Grandtop will assess its level of ownership.
