Parken to review full or partial sale of FC Copenhagen
Parken to review full or partial sale of FC Copenhagen Oct 13 (Reuters) - Parken Sport & Entertainment PARKEN.CO said on Tuesday it would explore a full or partial sale of FC Copenhagen as part of a review of strategic options for its football operations.
FC Copenhagen accounted for about two-fifths of group revenue last year, making any disposal a significant strategic shift for Parken, whose other operations include holiday resorts and commercial property. Its shares rose as much as 14.6% to their highest level in more than a year after the announcement.
The review also covers FC Copenhagen's women's football business and the group's stake in Sweden's FC Rosengard
Parken will also consider selling all or part of Parken Ejendomme, its property business comprising the football stadium and adjoining office towers
A property sale is not a prerequisite for a sale of the football activities, the company said in a statement
The board said the timing was right to examine alternatives to its current ownership of FC Copenhagen and would discuss the options with selected potential investors
It also said there was no certainty that either sale would be completed
Parken shares are on track for a best day in two years
(Reporting by Jesus Calero; Editing by Matt Scuffham)
((jesus.calero@thomsonreuters.com))