Birmingham International Holdings Limited have announced today that they have received a non-binding offer for the disposal of interests in Birmingham City Football Club. Basically they have the option to sell some and/or all of its interest in the football club.
The statement indicates that the board have considered only one offer, although media reports suggest this is not the case. The board members have decided that they will only dispose of interests up to 24% initially in order to retain BIHL trading status on the HKSE.
The statement then goes on to say that this statement is not the representation of a formal agreement; this is apparently normal practice at this stage. There is no naming of a preferred bidder, but the fact that they are commenting in the singular could mean they have indeed chosen said bidder.
Earlier today BIHL halted the trading on their shares in order to make this announcement. The statement also says they have asked the stock exchange to now resume the trading of BIHL.
To quickly summarise, it appears not much has been given away yet. However you could say that a bidder has been chosen and they intend to go through with selling 24% of Birmingham City Football Club to the anonymous party.
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