Addicks receive indicative offer
The board of Charlton Athletic plc announced on Friday that it has received an indicative cash offer from Zabeel Investments, a Dubai-based diversified investment company.
The indicative offer is subject to a number of (waivable) preconditions, including due diligence, however, it is at a level at which, should the offer be made formally to shareholders, the board would recommend shareholders to accept it.
There is, however, no certainty that a formal offer will be made nor as to the terms of any offer.
Zabeel Investments had been looking at the opportunity to invest in a leading English football club and had been monitoring the situation at Charlton Athletic Football Club closely.
In spite of being approached by various English football clubs, as well as a number of well-known clubs in Europe and South America, Zabeel Investments believes Charlton is the right club for them.
The board will keep the shareholders, fans and employees updated with any further developments.
Derek Chappell, chairman of the company and Richard Murray, chairman of CAFC, commented: "The board firmly believes that a successful outcome for this transaction would be beneficial to shareholders and employees of Charlton, all fans of the club and the local community as a whole.”
Mohammed Al Hashimi, executive chairman, Zabeel Investments, commented: "We feel now is the right time to make a strategic, long term investment in Charlton and get CAFC back to the English Premier League where they belong.
"The passion of the fans at Charlton, the heritage of the Club and the unique status it enjoys in the community make it an exciting proposition for us.”
For the purposes of the takeover code, this announcement has been made with the consent of Zabeel Investments.
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