India's Venkys plans to takeover EPL team

Posted By: Staff

London: Indian poultry firm Venky's Limited is set to take over English Premier League (EPL) side Blackburn Rovers with the deal likely to be completed next month, the club said today. If the deal gets finalized, Venky's, the flagship company of Pune-based Venkateshwara Hatcheries Group, will be the first Indian firm to own an English Premier League club. The company, which specializes in poultry farming and pharmaceuticals, has held several meetings with the Rovers and the Premier League.

Reports say the Indian company is likely to pay 40 million pounds (approx Rs 280 crore) if the deal materialises. Rovers chairman John Williams said the takeover is close to completion and both parties were "hopeful" the deal would be through next month.

The VH Group is Rs 17 billion conglomerate, the largest Asian poultry group. The group is highly diversified with businesses with interests in poultry, processed food, animal vaccines, pharma and healthcare products.

According to its website, Venky's, formerly known as Western Hatcheries Ltd., was established in 1976, mainly to produce chicks for the poultry markets of north India.

Story first published: Wednesday, October 27, 2010, 12:32 [IST]
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