Chinese manufacturing business Rastar Group has completed its takeover of La Liga club Espanyol in a move that furthers Asian influence in the top division of Spanish football.
Rastar confirmation of the transaction yesterday on Wednesday revealed that the group will invest €50m for a 54 per cent stake.
The Barcelona-based club are currently in 14th place in La Liga, just five points above the relegation zone.
"We positively value...the confirmation of the majority share acquisition of the club by Rastar Group and its president Chen Yansheng," the club said in statement.
The deal will see Rastar, which also specialises in toys and video games, invest 50 million euros for a 54 percent stake.
Rastar confirmation of the transaction yesterday on Wednesday revealed that the group will invest €50m for a 54 per cent stake.
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| Espanyol vs Barcelova. Image credit: Getty Images |
"We positively value...the confirmation of the majority share acquisition of the club by Rastar Group and its president Chen Yansheng," the club said in statement.
The deal will see Rastar, which also specialises in toys and video games, invest 50 million euros for a 54 percent stake.
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