Yeung completes Blues shares deal

Hong Kong businessman Carson Yeung has clinched a deal to become Birmingham’s biggest shareholder.

The Barclays Premier League newcomers this afternoon announced to the Stock Exchange that Yeung’s company Grandtop International Holdings Limited (GHIL) had completed the purchase of 29.9% of the club’s shares.

GHIL have bought the shares from directors David and Ralph Gold, David Sullivan, Karren Brady and Roger Bannister after paying a non-refundable deposit of £1.09m on June 27 in anticipation of the deal.

The deal, worth a little under £15m, means the Golds and Sullivan now each own 23.22% stakes, while Brady and Bannister also retain small holdings.

Today’s announcement confirms that talks between the club and GHIL are ongoing and could still lead to a takeover bid from Yeung.

An increase in his holding to 30% would allow Yeung to trigger a bid to assume full control.