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Shares in FC Copenhagen owner boosted by takeover talk

Reuters  |  COPENHAGEN 

By Teis Jensen

(Reuters) - Shares in & Entertainment, owner of soccer club FC Copenhagen, climbed on Tuesday as its main shareholder confirmed about investor interest in buying the business.+

Parken's largest shareholder, pension fund LD Fonde, confirmed to that it had been in dialogue with Britain's about selling its 29 percent stake in the company.

"We have not made any agreement. I don't know what will happen now. The ball is in their half (of the) court," told

"They're not only interested in our shares, but all of Parken," she added.

Danish Inside Business had earlier on Tuesday reported that foreign investors could make a takeover offer this week valuing the company at up to 1.27 billion Danish crowns ($195 million).

The investors, backed by U.S. fund Fortress Investment Group, would pay 105-120 crowns ($16.1-18.4) per share, Inside Business reported, based on conversations with several sources close to the matter.

Wes Edens, the of Fortress, bought a stake in side Aston Villa, along with Egyptian billionaire Nassef Sawiris, last July.

Vanglo said had only been in contact with Redstone and their lawyers, the Danish branch of global firm DLA Piper, and not the investors behind any bid.

She declined to comment on price negotiations but said that "our shares are for sale at the right conditions". "We're not going to have our stake in Parken forever," she said.

LD Fonde, which is based on contributions from the 1970s and has 41 billion Danish crowns ($6.3 billion) under management, is being gradually closed down over a number of years and is therefore interested in selling its illiquid shareholdings, such as Parken, she said.

Parken said in a statement that it had not been in dialogue with foreign investors and that it had not received an offer.

Founded by a merger of two clubs in 1992, FC have since won the 12 times. Much travelled Senegalese striker Dame N'is one of their highest profile players.

The parent company also operates the Telia Parken national stadium in and holiday activity centres.

Parken shares initially rose 32 percent to 109 Danish crowns after the report and traded up 21 percent at 99.6 crowns at 1350 GMT.

($1 = 6.5257 Danish crowns)

(Additional reporting by Emil Gjerding Nielson, Editing by Jason Neely/Keith Weir)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Tue, January 08 2019. 20:14 IST
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