Bahrain's GFH agrees to sell part of Leeds United stake
Bahrain-based investment company Gulf Finance House (GFH) entered an agreement to exit part of its holding in English soccer club Leeds United. The stake sale was announced by GFH through a statement on Wednesday, according to Gulf Business.
GFH said British investors also agreed with the stake sale. The names of the investors were not named in a statement issued to a bourse. In addition, GFH did not disclose the value, size, or other details on the stake sold, the report said.
The English soccer club was acquired by GFH in December 2012. The said transaction was done through GFH's subsidiary in Dubai, GFH Capital. However, the latter's financial statements showed that it had offloaded more than half of its interest in the sports club less than six months after the purchase, Gulf Business Reported.
Gulf Finance House is an Islamic investment bank based Bahrain Financial Harbour, Kingdom of Bahrain. The firm was founded in 1999, according to GFH's company website.
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