Writer: Mikey Delap
Date:Friday October 22 2010
Rovers could be in new hands sooner than we all suspected as the VH Group, based in India like rival bidder Ashan Ali Syed, has moved into pole position in the Rovers takeover ordeal.
The process - which has lasted for over a decade (or so it seems) - to find new owners has seen many twists and turns but the Daily Mirror seem to feel that a decisive moment may have occurred.
The VH Group are pretty plush and aren't shy of a few bob after making plenty of cash primarily in chicken but in many different areas of business.
Want to hear more? Thought so.
Alan Nixon in the Daily Mirror writes - 'Blackburn Rovers are close to a shock takeover by the VH Group - an Indian company that made billions in the chicken industry.
Rovers could be in new hands as early as next week as representatives of the firm, which has expanded into many widespread fields, are due to arrive for final talks in the next 48 hours.
And the Premier League are also expected to put the mystery group through a thorough inspection about their background and plans before rubber-stamping the £40 million-plus bid.
The VH Group are known throughout Asia as leaders in the poultry business but they want to crack European markets and see Premier League football as a base for their expansion.
Known locally as Venky's - short for Venkateshwara Hatcheries - they have amassed a great fortune in the past few decades and have the money to buy out the late Jack Walker's Trustees for cash with no borrowing.
Rovers is for sale at around £25 million and have debts of around £16 million. There would be money to wipe that out and put cash in a transfer kitty for January.
Ironically Rovers have been a target for a couple of other bidders from India, with the VH Group the latest but about to become the most successful in that quest.'
A spokesperson for the group wasn't exactly talkative but did echo the sentiments of Ali Syed and Saurin Shah by proclaiming the rapid growth of the EPL in India.
VH Group refused to comment last night but an insider near the deal said: 'The group want to buy Rovers because they feel the Premier League is going to get bigger and bigger in India and Asia.
'This is a cash deal, with no leverage. The company has a lot of money and will not be wasting it, but they are very keen to succeed and see huge opportunities for all sides.'
How long before the poultry based jokes make an appearance?
Date:Friday October 22 2010
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