Yeung approach confirmed

Birmingham have confirmed that they have received an offer from the Carson Yeung-backed Grandtop International Holdings to raise their investment in the club.

Newspaper reports earlier today said the Hong Kong-based Limited company had made a fresh approach to acquire more shares and now the club have confirmed the news.

The statement read: ‘The board of Birmingham note the recent press speculation and confirm they have received an approach from Grandtop International Holdings Limited (‘Grandtop’) – which may or may not lead to an offer for the entire issued share capital of the Company.

‘Grandtop is currently a 29.9% shareholder, having acquired this holding in 2007.’

‘As shareholders will be aware, previous approaches did not proceed – and the issue of the funding of any possible offer will be a major factor in determining how the company responds to the approach,’ their statement continues.

‘A further announcement updating shareholders will be made when appropriate.’

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