London: Indian poultry firm Venky`s Limited
is set to take over English Premier League (EPL) side
Blackburn Rovers with the deal likely to be completed next
month, the club said on Tuesday.
If the deal gets finalised, Venky`s, the flagship company
of Pune-based Venkateshwara Hatcheries Group, will be the
first Indian firm to own an English Premier League club.
The company, which specialises in poultry farming and
pharmaceuticals, has held several meetings with the Rovers and
the Premier League.
Reports say the Indian company is likely to pay 40
million pounds (approx Rs 280 crore) if the deal materialises.
Rovers chairman John Williams said the takeover is close
to completion and both parties were "hopeful" the deal would
be through next month.
"A series of meetings, including discussions with the
Premier League, have followed an extensive due diligence
process. Both parties are hopeful that the transaction will be
completed in November," Williams said on his club`s official
website.
In a statement on the Rovers website, VH Group
chairperson Anuradha J Desai said, "We expect to be the first
Indian company to acquire a Premier League team. We are
particularly delighted that the team is Blackburn Rovers, with
whom we believe we have shared many values and ambitions."
Rovers manager Sam Allardyce said that the takeover would
infuse fresh investment into the club.
"The sooner the club changes hands the better. New
investment is needed and we have not had it for a long time.
Without it a business will crumble and fall," Allardyce said.
Rovers, based in the Blackburn town of Lancashire, are
currently just outside the Premier League relegation zone on
goal difference and have won just once since the opening day
of the season.
The VH Group is Rs 17 billion conglomerate, the largest
Asian poultry group. The group is highly diversified with
businesses with interests in poultry, processed food, animal
vaccines, pharma and healthcare products.
According to its website, Venky`s, formerly known as
Western Hatcheries Ltd., was established in 1976, mainly to
produce chicks for the poultry markets of north India.
PTI
By clicking “Accept All Cookies”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.
Cookies Setting
By clicking “Accept All Cookies”, you agree to the storing of cookies on your device and the processing of information obtained via those cookies (including about your preferences, device and online activity) by us and our commercial partners to enhance site navigation, personalise ads, analyze site usage, and assist in our marketing efforts. More information can be found in our Cookies and Privacy Policy. You can amend your cookie settings to reject non-essential cookies by clicking Cookie Settings below.
Manage Consent Preferences
Strictly Necessary Cookies
These cookies are necessary for the website to function and cannot be switched off in our systems. They are usually only set in response to actions made by you which amount to a request for services, such as setting your privacy preferences, logging in or filling in forms. You can set your browser to block or alert you about these cookies, but some parts of the site will not then work or you may not be able to login.
Functional Cookies
These cookies enable the website to provide enhanced functionality and personalisation. They may be set by us or by third party providers whose services we have added to our pages. If you do not allow these cookies then some or all of these services may not function properly.
Targeting Cookies
These cookies may be set through our site by our advertising partners. They may be used by those companies to build a profile of your interests and show you relevant adverts on other sites. They are also used to limit the number of times you see an advert as well as help measure the effectiveness of an advertising campaign. They do not store directly personal information, but are based on uniquely identifying your browser and internet device. If you do not allow these cookies, you will experience less targeted advertising.
Performance Cookies
These cookies allow us to count visits and traffic sources so we can measure and improve the performance of our site. They help us to know which pages are the most and least popular and see how visitors move around the site. All information these cookies collect is aggregated and therefore anonymous. If you do not allow these cookies we may not know when you have visited our site, and may not be able to monitor its performance.