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QPR confirm takeover talks

Fri 29th Jul 2011 | Clubs Ownership

Queens Park Rangers (QPR) have announced they are in discussions over the sale of the club with another group potential buyers.

A statement released by the club read: “On 4th March 2011 the Company (QPR Holdings Limited) announced that it was in preliminary discussions with a potential purchaser.”

“At the time the Takeover Panel confirmed that should those discussions result in an offer being made for the Company, the offer would be subject to the City Code on Takeovers and Mergers (the Code), even if such an offer was made after 2nd April 2011, being the date on which the Company ceased to be to the Code, due to it being de-listed 10 years previously.”

Talks over the sale of the newly promoted Premier League side began with the un-named group following Bernie Eccelstone’s decision to sell his 69% share in the club. However, an agreement was not reached.

“The Company confirms that these discussions came to an end in March 2011.”

“Since the end of these discussions, the Company has entered into preliminary discussions with a different party and can confirm that these discussions and any subsequent transaction would not be subject to the Code.”

Accordingly the Company confirms that it is no longer in an offer period for the purposes of the Code.”

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