Shares in FC Copenhagen owner boosted by takeover talk (updated)
08/01/2019 09:30
* Pension fund prepared to sell on right terms
* Aston Villa investor Edens seen linked to possible bidder
* Company also operates Danish national stadium
(Adds main shareholder confirmation, background, details)
By Teis Jensen
COPENHAGEN, Jan 8 (Reuters) - Shares in Parken Sport &
Entertainment PARKEN.CO , owner of soccer club FC Copenhagen,
climbed on Tuesday as its main shareholder confirmed media
reports about investor interest in buying the business.+
Parken's largest shareholder, pension fund LD Fonde,
confirmed to Reuters that it had been in dialogue with Britain's
Redstone Advisory Partners about selling its 29 percent stake in
the company.
"We have not made any agreement. I don't know what will
happen now. The ball is in their half (of the) court," LD Fonde
Chief Executive Dorrit Vanglo told Reuters.
"They're not only interested in our shares, but all of
Parken," she added.
Danish online outlet Inside Business had earlier on Tuesday
reported that foreign investors could make a takeover offer this
week valuing the company at up to 1.27 billion Danish crowns
($195 million).
The investors, backed by U.S. fund Fortress Investment
Group, would pay 105-120 crowns ($16.1-18.4) per share, Inside
Business reported, based on conversations with several sources
close to the matter.
Wes Edens, the co-founder of Fortress, bought a stake in
English Championship side Aston Villa, along with Egyptian
billionaire Nassef Sawiris, last July.
Vanglo said LD Fonde had only been in contact with Redstone
and their lawyers, the Danish branch of global law firm DLA
Piper, and not the investors behind any bid.
She declined to comment on price negotiations but said that
"our shares are for sale at the right conditions". "We're not
going to have our stake in Parken forever," she said.
LD Fonde, which is based on contributions from the 1970s and
has 41 billion Danish crowns ($6.3 billion) under management, is
being gradually closed down over a number of years and is
therefore interested in selling its illiquid shareholdings, such
as Parken, she said.
Parken said in a statement that it had not been in dialogue
with foreign investors and that it had not received an offer.
Founded by a merger of two clubs in 1992, FC Copenhagen have
since won the Danish league 12 times. Much travelled Senegalese
striker Dame N'Doye is one of their highest profile players.
The parent company also operates the Telia Parken national
stadium in Copenhagen and holiday activity centres.
Parken shares initially rose 32 percent to 109 Danish crowns
after the report and traded up 21 percent at 99.6 crowns at 1350
GMT.
($1 = 6.5257 Danish crowns)
(Additional reporting by Emil Gjerding Nielson, Editing by
Jason Neely/Keith Weir)
((teis.jensen@thomsonreuters.com; +4533969653/+4526309653;
Reuters Messaging: teis.jensen.thomsonreuters.com@reuters.net))