Amit on takeover statement

[bbedford]

Queens Park Rangers say they are in talks with a potential buyer for a majority stake in the club.

In a statement, the club said it had entered into "preliminary discussions" with a view to a 67% sale of QPR Holdings Limited.

However, it said that the talks "may or may not result in an offer being made" for the west London club.

Vice-chairman Amit Bhatia, who joined the board three years ago, said his family was not selling its shares.

Mr Bhatia is the son-in-law of one of the word's richest men, Indian ty**** Lakshmi Mittal.

"The club has today confirmed that it has entered into preliminary discussions relating to a potential sale of shares in QPR Holdings Ltd," said Mr Bhatia.

"My family and I would like to make clear that we are not part of these negotiations to sell our shares.

"We remain passionate about QPR and are working to achieve our immediate goal of providing Premier League football to our loyal supporters next season."

The club has also emphasised that the talks are at an early stage, and that there is no certainty that an offer for the shares will be forthcoming

[Ellerslie]

https://twitter.com/davidmcintyre76/status/43698886459658240

"Just circulated story with Amit Bhatia quotes reaffirming commitment to QPR - no desire to sell shares."

[Ellerslie]

"My family and I". "We are not a part of these negotiations".

It's not Bhatia or The Mittals. Looks like Bernie is jumping ship.

[The White City General]

https://twitter.com/davidmcintyre76/...98886459658240


"Just circulated story with Amit Bhatia quotes reaffirming commitment to QPR - no desire to sell shares."

Hope Paul Hart does well at Swindon. Decent bloke who did a lot of good at QPR in a very short time. Laid foundations for Warnock.

Found that quote on McIntryes twitter page.

[qblockpete]

http://www.thisislondon.co.uk/standard-sport/football/article-23929060-amit-bhatia-remains-passionate-to-qpr-as-club-enters-talks.do

It must be a group that are closely linked to Amit and Lakesmi, other wise they would not come out with such a strong statement

[stanley75]

http://www.thisislondon.co.uk/standa...nters-talks.do

It must be a group that are closely linked to Amit and Lakesmi, other wise they would not come out with such a strong statement

Sorry?! How do you work that out? I am now thinking it was the Mittals that wanted the statement made so they could distance themselves from the reports about selling up. But whether they sell or not is not really of any real significance. They are minority shareholders and whoever gets the 67% can and probably will put the Mittals to a back seat, get their own Chair and CEO in etc.

All this is is a "not us gov - we still like it here" statement. No more.

[qblockpete]

They obviously know who they are..

If they couldn't work with them, they would be trying sell too.

[stanley75]

They obviously know who they are..

If they couldn't work with them, they would be trying sell too.

I suppose that could be true but no evidence of it and equally the opposite could be just as true. Bernie doesn't even have to tell them who it is and he certainly doesn't have to involve them in selling of his own shares. Like I say, you can't infere anything like this from the statement apart from they don't want it to be seen that they are selling up. That's all it says.

[bbedford]

Of course you have to involve other Directors if you are selling 67% of the business.

In fact if you purchase more that 29.5% you have to make an offer to all shareholders - and this gives the clue that it is a "friendly" takeover and the other directors are happy with the situation.

[qprjames]

If they are so 'passionate'.... why don't they buy up some more shares?

[stanley75]

Of course you have to involve other Directors if you are selling 67% of the business.

In fact if you purchase more that 29.5% you have to make an offer to all shareholders - and this gives the clue that it is a "friendly" takeover and the other directors are happy with the situation.

Er - all we have heard from the other stakeholders is they will not sell theirs. How that equates happy is one of many things that is puzzling me at the moment.

And P.S you have to do no such thing (as offer to buy 100%) at any stage let alone talks with the major shareholding.

[moon_safari]

Feel it's time to say this..
The mittal family funded the routs,miller and shittu deals.
Amit did loads of work with warnock and is embarrassed that promises made to him twice were broken.

[qprjames]

Feel it's time to say this..
The mittal family funded the routs,miller and shittu deals.
Amit did loads of work with warnock and is embarrassed that promises made to him twice were broken.

Why doesn't he increase his share then?

[Bigdave]

Feel it's time to say this..
The mittal family funded the routs,miller and shittu deals.
Amit did loads of work with warnock and is embarrassed that promises made to him twice were broken.

What promises mate?

[moon_safari]

What promises mate?

Regarding his budget mate