Sport Lander deny they have pulled out of discussions with Saints

20:38  18 april  2017
20:38  18 april  2017 Source:   Read Sport

Lander back out of deal to take over Southampton

  Lander back out of deal to take over Southampton Chinese company Lander Sports has been touted with a takeover of Southampton Football Club for some time now, but it looks as though their plans to buy the south coast outfit have been scrapped. According to a report from Reuters, Lander have confirmed that they will not be going any further in their intentions to buy Southampton and will move on now. “Whether the company can eventually complete the acquisition of the target firm’s shares remains uncertain.” “To keep to principle of prudence, ensure the company’s development remains normal and to safeguard the majority of investors’ interests, the company has decided to end this major asset restructuring.” It’s stated in the report that the overall plan from Lander was to buy 80% of the St. Mary’s Football Group, however the process was more meticulous and difficult than what was initially expected, with governing bodies and economic planners from back in China required to be involved in any potential deal that went through. Speculation surrounding the future of Southampton as a club had been rife over the past six months but it looks as though if Saints do find themselves under new ownership next season, it may not be by Lander.

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Southampton v Burnley - Premier League © Mike Hewitt/Getty Images Sport Southampton v Burnley - Premier League

Contrary to earlier reports, Chinese development company Lander have insisted that they have not pulled out of negotiations with St Mary’s Football Group regarding a potential purchase an 80% stake of Southampton Football Club.

According to a report from China Daily, the Holding Group have denied the reports of them pulling out of discussions with Katharina Liebherr, Southampton’s current owner, and are still keen to make their move for the club.

It’s stated that the claim that ruled out any further talks with St Mary’s Football Group was made simply by the group’s subsidiary company Lander Sports. However, the report now states that Lander expect to see a deal progress in regards to buying an 80% stake and will now take the negotiations forward with the unlisted parent company Lander Holding Group.

Southampton will now hope that they can come to a healthy conclusion with Lander regardless of whether the stake is bought, leading to a clear future and vision for the club.

Saints set for takeover meeting .
Southampton are set for a takeover meeting with Lander Holdings and the Premier League to discuss a bid for the club. Lander Holdings are looking to purchase an 80% share in Southampton Football Club, worth £210m. According to the Daily Echo, the talks are going into an advanced stage and the only stumbling block is that Lander Holdings are not registered on the stock exchange. Lander Sports – a subsidiary of Lander Holdings – were previously in the running to make an investment but have since backed down, and they were on the stock exchange. Katharina Leibherr has carried out her own due diligence on the deal and appears to be satisfied that Lander will progress the club forward in the right manner. You only have to look at the likes of Birmingham, Cardiff City, Wolves, Aston Villa and Portsmouth to see that new owners is not always a good idea.

Source: http://uk.pressfrom.com/news/sport/-143860-lander-deny-they-have-pulled-out-of-discussions-with-saints/

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