Manchester United and Ineos’ Sir Jim Ratcliffe expected to announce stake sale next week

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<span>© Reuters Manchester United (MANU) and Ineos&#8217; Sir Jim Ratcliffe expected to announce stake sale next week &#8211; Sky</span><br />
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<p>Premier League giant Manchester United plc (NYSE:) and petrochemicals billionaire Sir Jim Ratcliffe are expected to announce the deal next week that will see the Ineos CEO take a 25% stake in the club, according to Sky News on Monday.</p>
<p>The media company said the two sides have marked early next week as the date to confirm the long-awaited $1.25 billion deal. It will see Ratcliffe take two boardroom seats at the club. </p>
<p>However, Sir Jim and Sir Dave Brailsford, who leads Ineos&#8217;s sporting operations, are not expected to join the board. </p>
<p>According to Sky, the deal will be structured as a tender offer to acquire 25% of the listed A-shares, priced at $33 per share. In addition, the article states the Glazers will sell 25% of their B-shares to Sir Jim as part of the deal. </p>
<p>Furthermore, Ratcliffe is expected to invest $300 million from his fortune in United&#8217;s infrastructure, with the majority of funds being transferred to the club in the short term. Ratcliffe will not add to Manchester United&#8217;s existing borrowings.</p>
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<br /><a href="https://www.investing.com/news/stock-market-news/manchester-united-and-ineos-sir-jim-ratcliffe-expected-to-announce-stake-sale-next-week–sky-432SI-3248789">Source link </a></p><p>The post <a href="https://forextraderhub.com/manchester-united-and-ineos-sir-jim-ratcliffe-expected-to-announce-stake-sale-next-week.html">Manchester United and Ineos’ Sir Jim Ratcliffe expected to announce stake sale next week</a> first appeared on <a href="https://forextraderhub.com">Forex Trader Hub</a>.</p>