Chinese firm set for Sochaux takeover
Print Edition
CHINESE hi-tech company Ledus on Monday moved a step closer to taking over French second-division club Sochaux from carmaker Peugeot, signing paperwork that could pave the way for an outright purchase by next season.
The 7-million euro (US$7.9 million) deal was set in motion in February by Hong Kong-listed electrical components manufacturer Ledus, a subsidiary of Tech Pro.
Sochaux said that Monday’s joint signature validates terms of the letter of intention signed in February and confirmed the planned transfer of 100 percent of the club’s shares, describing it as “another step” for the two parties.
Tech Pro chairman Li Wing-Sang said in April he planned to make no big changes to the club set up by Peugeot in 1928 for its workers, and described it as a fabulous brand.
Peugeot has in recent times focused on motor racing and tennis, while Sochaux, which has spent a record 66 seasons in the French top-flight, was finally relegated last year into Ligue 2.
Sochaux’s Auguste-Bonal Stadium stands beside a Peugeot factory that still employs 10,000 workers.
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