Belfast Telegraph

Saturday 19 April 2014

Usmanov won't sell Gunners stake

Alisher Usmanov

Russian billionaire Alisher Usmanov insists he will not sell his stake in Arsenal after fellow shareholder Stan Kroenke triggered a mandatory buyout offer for the club.

American businessman Kroenke secured a 62.89% controlling share in the club earlier this week after agreeing to buy out major shareholders Danny Fiszman (16.1%) and Lady Nina Bracewell-Smith (15.9%) for around £234million.

By passing the 30% threshold, Kroenke is obliged to make a cash offer for the remaining capital at £11,750 per share. The club's total value has been set at £731million.

Kroenke's main focus will now be on purchasing the £194million stake owned by Usmanov, who does not have a seat on the board but controls 27% of the club's holding company.

However, Usmanov told Bloomberg: "I'm not going to sell my stake. I love Arsenal, that's why I'm a shareholder."

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