A leading Singapore politician has said Peter Lim’s takeover of Valencia has been completed, despite an official announcement.
Tao Chee Hean, the equivalent of the Secretary of State, said at an event in the Spanish Embassy in Singapore that Lim’s purchase of Los Che was evidence of the growing relationship between Singapore and Spain.
Lim’s takeover of the club has lingered on for months, AS notes, but it has been reported in recent days that an agreement is close.
Bankia, Valencia’s main creditor, and Lim’s Meriton company, met regarding a new proposal that was said to address the areas of contention between the parties.
The lawyers of the respective parties have been in contact over the re-financing of the club’s debt, which is a barrier to Lim’s purchase of 70% of Valencia’s shares.