DUBAI: Bahrain-based investment firm Gulf Finance House (GFH) said on Tuesday that a family consortium led by chairman of English soccer team Leeds United had bought a 5.71 percent stake in the company.
Salah Nooruddin, a Bahraini businessman will join GFH's board of directors following the stake acquisition, subject to regulatory approval, a bourse filing said.
No purchase price was given in the statement. However, Monday's closing share price, the stake would be worth around 28.9 million dinars or $76.6 million, according to Reuters calculations.
GFH Capital, a Dubai-based unit of GFH bought Leeds United last year for 52 million pounds and subsequently sold some of its stake to investors including Envest Limited, a firm owned by Nooruddin and his wife.
Nooruddin was named chairman of the soccer club in July. (Reuters)
