Peter Lim’s takeover of Valencia enters ‘final phase’

SINGAPORE – Local businessman Peter Lim’s dream of owning Spanish football club Valencia inched closer to completion yesterday (Oct 24), after his Meriton Holdings announced it signed the Sales and Purchase Agreement with Foundation Valencia CF (FVCF).

All the key stakeholders are on board with Meriton’s plan now, and the acquisition process enters “the final phase” of fulfilling the conditions precedent and concluding the necessary legal agreements and approvals from authorities, according to the joint press release issued by both parties.

Meriton Director Chan Lay Hoon said: “We are extremely proud to be given the opportunity to take control of one of the biggest and most-supported clubs in Europe. It has been a very long journey, longer than we would have liked.”

“We especially want to thank the Valencia CF fans for their unwavering support and patience. It was most heartening to have them behind us all the way despite the long negotiation process. We look forward to many exciting years of European football with our fans.”

Commenting on the latest developments, FVCF President Aurelio Martinez said: “This is a momentous day for the Foundation and the football club. Peter has injected a new lease of life into Valencia CF and we know he is raring to do more. We share the club’s and the fans’ excitement about the future of Valencia CF.” CHANNEL NEWSASIA