Peter Lim is almost the new owner of Valencia after his long-running takeover attempt took a major step towards completion.
AS reports documents were signed on Friday to transfer 70% of shares in Los Che to Meriton, Lim’s company, after a 10-month negotiation.
The club’s official website confirms a Sales and Purchase Agreement has been authorised and the takeover is ‘in the final phase’ with legal agreements and authority approval now needed.
It’s believed that the final paperwork wasn’t completed until minutes before midnight on Friday and Lim has paid just under €100m for his 70% stake.
Valencia President Amadeo Salvo and a high-ranking official from Meriton met in Madrid with Bankia, the bank that took ownership of Valencia due to their crippling debts, and it was eventually agreed to re-finance the club’s debt.
An agreement between Meriton and Bankia had been the sticking point to the completing of the deal but the debt has now been re-financed for the next 18 years.
Lim, who has been calling the shots at Valencia even before officially taking ownership, is expected to attend today’s match at Mestalla against Elche.
Valencia’s official website confirms that the final phase of the transaction should be completed in a month’s time.
