Smith Square Partners is pleased to announce that it has acted as financial adviser to Jeremy Peace on the sale of West Bromwich Albion Holdings Limited to Yunyi Guokai (Shanghai) Sports Development Limited (“the Buyer”), a company controlled by Chinese entrepreneur Guochuan Lai.
West Bromwich Albion Holdings Limited owns approximately 88% of the English Premier League club’s parent entity, West Bromwich Albion Group Limited.
The sale was agreed on 24 June 2016, subject to certain approval and consent processes both in China and the UK, and subsequently completed on 15 September 2016.
The Buyer is a new company, focused on the sports industry, formed for the purpose of completing the acquisition. It is controlled by Guochuan Lai, who has provided the underlying equity for the acquisition, together with Palm and funds introduced by Yunyi Investment, a regulated asset management company, which led the negotiations on behalf of the Buyer.
Guochuan Lai commented: “I am excited and privileged to have the chance to become the new owner of this great Club. We have a strong squad, loyal fans and a unique culture. My immediate priorities will be to maintain the Club’s stable structure, respecting its well-run nature and its heritage. I have no intention of changing the Club’s ethos.
Outgoing Chairman Jeremy Peace commented: “I believe this deal will enable Albion to build on the strong, sustainable foundations that have been the cornerstone of the Club’s progress.
“I have been Chairman for 14 years and I am obviously pleased that in that time we have become an established top flight club. Now, having spent time with Guochuan, I believe he is the right man to take Albion forward.
The financial terms of the transaction are private and confidential between the parties.
For more information visit West Bromwich Albion’s website.