Usmanov makes push towards 30 percent Arsenal stake

Reuters
Russian businessman Usmanov visits exhibition of works by famous British artist Turner in Moscow
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Russian businessman Usmanov visits exhibition of works by famous British artist Turner in Moscow

LONDON (Reuters) - Russian billionaire Alisher Usmanov has offered up to 14,000 pounds per share to a select number of Arsenal shareholders as he looks to up his stake in the Premier League club to 30 percent, a Red and White Holdings spokesman said.

Usmanov, who owns around 29.5 percent of the north London club through his Red & White vehicle, would not be required to make a formal takeover bid for Arsenal if he reaches the 30 percent mark due to a waiver in place with majority shareholder Stan Kroenke, a spokesman said.

American billionaire Kroenke agreed a deal with Arsenal's main shareholders and executive management in April to take over the club. He now controls 66.82 percent of Arsenal, according to its official website.

(Reporting by Neil Maidment; Editing by Paul Sandle)

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