PARIS (AFP) - A Qatari investment company has acquired a 70 percent majority shareholding in top French side Paris St Germain, taking over from US group Colony Capital.
"Colony Capital and a Qatari investment company announce today that they have reached agreement for this new partner to take a 70 percent shareholding in Paris St Germain with Colony Capital retaining 30 percent of the club shares," a statement from Colony Capital said.
Colony Capital became the majority shareholder in the Paris club in 2006, taking over from Canal+ television company.
"We looked for the best possible partner to ensure PSG a place in history," said Sebastien Bazin, head of the European branch of Colony Capital.
"We found it with our new associate who shares this ambition."
Colony Capital had initially wanted to go 50-50 on the deal but finally ceded 70 percent.
PSG finished fourth this season in the French first division and lost in the cup final to Lille.
"Colony Capital and a Qatari investment company announce today that they have reached agreement for this new partner to take a 70 percent shareholding in Paris St Germain with Colony Capital retaining 30 percent of the club shares," a statement from Colony Capital said.
Colony Capital became the majority shareholder in the Paris club in 2006, taking over from Canal+ television company.
"We looked for the best possible partner to ensure PSG a place in history," said Sebastien Bazin, head of the European branch of Colony Capital.
"We found it with our new associate who shares this ambition."
Colony Capital had initially wanted to go 50-50 on the deal but finally ceded 70 percent.
PSG finished fourth this season in the French first division and lost in the cup final to Lille.
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