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Tuesday, 24 July 2018

Sawiris, Fortress Investments’ Edens acquire 55% stake in Aston Villa FC in GBP 30 mn transaction

M&A WATCH- Sawiris, Fortress Investments’ Edens acquire 55% stake in Aston Villa FC in GBP 30 mn transaction: Nassef Sawiris is joining forces with Fortress Investment Group co-founder Wes Edens to buy a 55% stake in English football club Aston Villa for GBP 30 mn, sources close to the matter told Bloomberg on Saturday. The club, which lost its spot in the English Premier League in 2016, has struggled financially since it failed to win its way back from relegation last season, especially as it spent considerable sums to acquire new players. Chinese businessman Tony Xia, who has owned the football club since 2016, said that “in finding such strong partners as Nassef and Wes we’re gearing up to fight again and bring back the success that this club deserves and we all so want to provide it with.” The Financial Times also has the story.

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