November 28 – US private equity investor Silver Lake has boosted its shareholding in Manchester City’s parent company City Football Group (CFG) to more than 18%.
The US firm has bought the shares held by China Media Capital (CMC) who dilute their holding to almost zero.
No value has been put on the acquisition or the terms of the deal.
CFG said the deal was an “endorsement” of its business model and its “continued international growth”. CFG also said the CMC “remains a valued CFG partner, particularly in China.”
CFG was valued at $4.8 billion when Silver Lake bought its original 10% stake.
CMC has owned as much as 13% in CFG but now only owns 1%.
In the latest share trading CMC sold 7.24% of its shares in the group. Silver Lake bought half with Sheikh Mansour’s Newton vehicle buying the rest.
Previously CFG had increased its CFG stake to 14.5% by acquiring a separate block of shares from CMC.
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