Manchester City owner, Sheikh Zayed Al Nahyan sells 10% of his shares in the club for $500 million

By -


NoireTv Africa  
If you live in the USA, NoireTV now showing nationwide on Verizon Fios on channel 269. Press 269 on your remote control. NoireTV now on Verizon Fios Channel 269. Press 269 on your remote control. Follow us on Instagram @noiretvafrica and on Facebook ... www.facebook.com/caspennoire



Sheikh Mansour bin Zayed Al Nahyan, owner of English Premier League champions, Manchester City and City Football Group, has sold about 10 per cent of the shares to Silver Lake, a private equity investor for about $500 million.  

The deal values City Football Group at US$4.8B post-investment. Apart from its ownership of Manchester City, CFG is the owner of football clubs and related businesses, including New York City FC, Melbourne City FC, Yokohama F. Marinos in Japan, Club Atletico Torque in Uruguay, Girona FC in Spain and Sichuan Jiuniu FC in China.  

The company has more than 2,000 employees in 12 locations globally, overseeing more than 1,500 players and 2,500 games annually, and delivering a unique global platform to its commercial partners.  T

he proceeds from the investment will be used by City Football Group to fund international business growth opportunities and develop further CFG technology and infrastructure assets. No existing CFG shareholders are selling equity as a result of this primary capital investment. Abu Dhabi United Group, the investment vehicle owned by Sheikh Mansour bin Zayed Al Nahyan, remains the majority CFG shareholder ( about 77%).  

In addition, about 12% of CFG equity remains held by a consortium of Chinese institutional investors led by China’s leading media and entertainment conglomerate CMC Inc. Pursuant to the agreement, the Board of the City Football Group Holding Company will increase from eight to nine members.  

Egon Durban, a Managing Partner and Managing Director of Silver Lake, will represent Silver Lake as the ninth CFG board member.
“Silver Lake is a global leader in technology investing, and we are delighted by both the validation that their investment in CFG represents, and the opportunities for further growth that their partnership brings.
We and Silver Lake share the strong belief in the opportunities being presented by the convergence of entertainment, sports and technology and the resulting ability for CFG to generate long-term growth and new revenue streams globally,” said Khaldoon Al Mubarak, Chairman of City Football Group.


Also visit our  website:  www.noiretv.com

Comments

Post a Comment

Popular posts from this blog

Big Brother Fans Speculate on AJ Odudu's Mic Blunder Reaction to Trish's Eviction

By -
Image
 Big Brother viewers are convinced they picked up on AJ Odudu's real reaction to Trish's eviction during Friday night's live episode. Following Trish's exit, which left many viewers reeling after she was tipped as one of the favourites to win the show, fans speculated over AJ's one-word response. Many believe they caught AJ saying 'what?' after it was revealed that Trish would be the second evictee of the night, after Chanelle was booted from the house. They suggested that the Big Brother host was just as shocked as viewers that Trish was leaving the house just a week before the live final. After it was announced that Trish would be leaving, AJ's reaction was caught due to the close proximity of her microphone. One account, wrote: 'AJ Odudu saying 'what?!' accidentally down her mic into the house after Trish was evicted I… she really is one of us #BBUK.' Stunned: Following Trish's exit, which left many viewers reeling after she was t
Read more

Characters In BBC’s Documentary On TB Joshua Unknown To Us – Synagogue Church

By -
Image
  The Synagogue Church of all Nations (SCOAN) has countered the BBC documentary on the late Temitope Babatunde Joshua, known as TB Joshua, founder of SCOAN. SCOAN described the documentary against TB Joshua as unfounded, and that the characters interviewed in the report were unknown to the church. The church, in a statement signed by its Public Affairs Director, Mr Dare Adejumo, said the statement was aimed at disabusing public minds from the report. The News Agency of Nigeria (NAN) recalls that the BBC released a highly controversial and damning documentary on the late TB Joshua on Monday, accusing him of various crimes, including rape, against some members. SCOAN said, “BBC World Services investigative unit, code-named Africa Eye, came out this week with weird and strange episodes of atrocities against the late founder of SCOAN.” It said that to investigate and publish or broadcast reports was a central kernel of journalism, but to do so outside the ethics and fundamental principles
Read more

NBA Suspends Canada’s Joshua Primo For 4 Games For Exposing Himself To Women

By -
Image
  The NBA has suspended former San Antonio Spurs guard  Joshua Primo   for four games   ... after it says it found he exposed his private parts to multiple women. The league announced the ban on Friday morning ... saying an investigation into the free agent revealed he had "engaged in inappropriate and offensive behavior." NBA officials called his actions "conduct detrimental to the league." They did, however, note that they "did not find evidence that he engaged in any sexual or other misconduct apart from these brief exposures." "Primo maintains that his conduct was not intentional," the league said. Dr. Hillary Cauthen , Primo's former therapist, was the first to  bring the allegations  against Primo to light after she claimed last fall that he exposed himself to her on nine separate occasions. Dr. Cauthen's attorney,  Tony Buzbee , alleged the Spurs were aware of Primo's actions, but didn't take action. Cauthen went on to file
Read more