Kroenke getting close to Arsenal takeover

Stan Kroenke has become the largest shareholder at English Arsenal after striking a deal on Friday with the Carr family to buy 4,839 shares, increasing his stake to 28.3 percent.

Kroenke paid between GBP 8,500 and GBP 10,500 per share, putting the value of the purchase at more than GBP 45 million, and now he is close to the 30 percent needed to make a takeover offer for the club.

Kroenke who purchased last month 8 percent of Arsenal’s equity from Danny Fiszman for GBP 42.5 million, now has a 3.3 percent of holding more than Uzbekistani metals magnate Alisher Usmanov.

“As a result of the acquisition, Stan Kroenke has a beneficial interest in, and controls voting rights over 17,613 ordinary shares in the company, representing 28.3 percent of the company’s issued ordinary shares,” a statement on the club’s official website read.

Kroenke was admitted to the Arsenal board in September last year and is now expected to make a full takeover bid in the summer.

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