Liga BBVA: Chinese company Rastar Group will acquire between 45% and 56% of RCD Espanyol

The Chinese company Rastar Group, specialising in raw materials, manufacturing and model cars, will acquire between 45% and 56% of the capital of RCD Espanyol (Liga BBVA), the company announced on 02/11/2015. Rastar Group states that the unit price of the shares acquired by the company is €78. The total amount of the transaction should therefore be between €14.3m and €17.8m.

Rastar Group announced it reached an agreement with Daniel Sanchez Llibre and Ramon Condal, two former presidents of the Barcelona-based club, and still among its major shareholders, as well as minority shareholders. The two former presidents had announced that they wanted sell their shares to a company with sufficient economic power to allow Espanyol to be remain competitive in Spain's top flight. The interest of the US investment fund Cerberus had particularly been mentioned.

"The company hopes that the deal will help it expand its interactive entertainment business in the sports sector," stated Rastar Group on 01/11/2015. The Chinese group has agreed, in principal, to invest about €45m into the operations of…