LA LIGA | ESPANYOL
Rastar Group purchase 45,1% of RCD Espanyol
The Chinese company paid 78 euro per share for a business valued at between 143 million and 178 million euro.
As the Chinese market closed, the Rastar Group have announced the purchase of 45,1% of the shareholding at RCD Espanyol for a price of 78 euro per share (18 euro higher than their usual value), which see the group become new owners of the Catalan football club. Their overall objective is to secure a 56% of the total shareholding but with more than 45% of the club’s shares they now have a majority control due to the way in which the club’s shares are divided.
Rastar Group were founded in 1995, with the core part of their business focus being on remote controlled vehicles. They grew considerably in 2013, mainly due to their penetration into the world of electronics and a massive expansion plan in the East of China. Both the current board and the new owners have agreed a period of transition time to compose the new board of directors of the La Liga club.
The decision to sell the share package to the Chinese company by Dani Sánchez Llibre, Ramon Condal and other directors, Enrique Beltrán and José Manuel López Marcote was unanimous.
After acquiring the stake, Rastar said it will increase its investment in Barcelona-based Espanyol, who are 10th in the La Liga table, by up to 45 million euro.