Valencia-Lim deal nears completion

The takeover of Valencia by Singapore businessman and investor Peter Lim is nearing completion.

In fact, according to AS, the deal could be signed and sealed this weekend if talks between both parties proceed satisfactorily.

It was originally understood the agreement between Lim’s company Meriton and Bankia, the club’s main creditor, would be ratified on Tuesday or Wednesday.

However, at a meeting on Monday the Meriton executives asked for a recess for a couple of days to further study the capacity of sustainable debt, once it has been re-financed.

The initial deadline Meriton requested was this weekend, which Bankia accepted, although the most likely scenario appears to be that Monday will see the transaction concluded.

Tags Bankia Peter Lim