Bahrain-based fund agrees to acquire football club Leeds United

Bahrain-based investor Gulf Finance House (GFH) on Thursday said its fully-owned unit GFH Capital Ltd had inked an exclusive deal to head and arrange the takeover of Leeds City Holdings, the parent of Leeds United Football Club (LUFC).

The company gave no details on the financial aspect of the acquisition, or the timetable, invoking a confidentiality agreement.
However, it said that LUFC is one of the best supported English football clubs, with an attendance above the average per match day of most teams in the Premier League.

GFH expects the club to get financial benefits from the recent negotiations of football broadcast rights and sees chances for it to step up into the Premier League, it added.

Leeds United is currently one step below the Premiership, being 12th in the second league of British football. The club, active since 1919, is also known as the Whites, United and the Peacocks. It has so far won three League Championships and one FA Cup, with the last English championship won in 1992.

Ken Bates, Leeds’ chairman, said five days ago that the club was in advanced talks over a potential investment, Bloomberg reported. On 26 June 2012, the club said it had entered into an exclusivity arrangement with a potential investor, Daily Mail reported.

UK-based ICAP Shipping acquires India’s CTI Shipbrokers

UK-based group ICAP plc’s (LON:IAP) shipping arm, ICAP Shipping, said on Thursday that it had purchased Indian dry, tanker and sale and purchase broking specialist CTI Shipbrokers (India) Pvt Ltd, making it a wholly-owned unit.

The transaction involved the purchase of shares with a gross asset value of USD2.464m (EUR1.912m) from Tradex Chartering & Trading Private Limited and Captain Jaideep Kapoor. CTI Shipbrokers (India), which has offices in New Delhi and Mumbai and a workforce of 28, will operate as a unit of ICAP Shipping and will be led by Captain Kapoor as CEO, the buyer said.

As a result of the takeover, ICAP Shipping will be able to benefit from the rising shipping demand in India, which is an opportunity for strong growth in shipbroking, ICAP Shipping’s CEO, Henry Liddell, noted.

ICAP Shipping is present in London, UK, Singapore, Stamford, Connecticut, US, Shanghai, China, Hamburg, Germany, and Gibraltar. It specialises in dry cargo and tanker chartering, sale and purchase, freight derivatives and research and other shipping services.

ICAP plc is headquartered in London, UK. It operates as a voice and electronic interdealer broker and provider of post trade risk and information services, with presence in over 32 countries.