Date: 16th September 2009 at 12:02pm
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Carson Yeung has formally lodged his takeover bid for Birmingham City Football Club.

Hong Kong businessman Yeung is offering £1 a share and hopes to have a deal completed by the end of October.

At the moment Yeung owns almost 30% of the club, but David Sullivan and the Gold Brothers have said that they would sell their 50% stake in the club.

If he reaches a 90% stake that will then trigger the compulsory purchase of the remaining shares, but even without that Yeung would still own the club.

The first closing date of the offer is October 6, after which time Grandtop International Holdings – Yeung’s company – will assess their level of ownership.