Takeover bid at Charlton

By Rob Virtue on October 10, 2008 5:37 PM |

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AN OFFER from Dubai investors has been made for Charlton Ahtletic.

The south London club's board has said it would recommend shareholders accept the deal from Zabeel Investments.

The club said an "indicative offer" was made on Friday, October 10.

A statement from the club said: "Zabeel Investments had been looking at the opportunity to invest in a leading English football club and had been monitoring the situation at Charlton closely."

The offer is now subject to due diligence. The club added there was "no certainty" a formal offer will be made.

Charlton chairman Richard Murray and the company chairman Derek Chappell, said in a statement: "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."

The executive chairman of Zabeel Investments Mohammed Al Hashimi said: "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."

Zabeel Investments is a Dubai based company with business in commercial real estate development and management, private equity and asset management.

Its $5billion property and equity portfolio is managed by Zabeel Capital and Zabeel Properties.