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Dalian Wanda Group sells shares in Atletico Madrid

IANS  |  Madrid 

Atletico Madrid confirmed on Wednesday that the has sold its shares in to the which now has its stake in rise to 32 per cent.

The had held a 17 per cent stake in the club, which is currently second in Spain's Liga Lia, reports

These shares will now be added to the 15 per cent the bought in Atletico in November 2017 to give the company owned by the Israeli magnate a 32 per cent holding.

Atletico confirmed on their official website that the decision is "part of the global strategy of Wanda Group" and that it was taken by "mutual agreement."

adds that Wanda will remain a sponsor of Atletico Madrid and as such there will be no change to the name of the recently inaugurated or the "project to educate and train children and young adults".

Meanwhile Atletico and Wanda maintain a "firm commitment to continue their mutual collaboration, which will be strengthened in the coming months thanks to new initiatives."

--IANS

pur/vm

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, February 14 2018. 20:24 IST
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