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Nigerian billionaire enters battle for Arsenal ownership

Posted By: Staff

London, may 23(ANI): Aliko Dangote, a billionaire Nigerian industrialist, is plotting to buy 16 percent stake in Arsenal in a move that could trigger a takeover battle for the Premier League club.

According to reports, Dangote is in talks to buy the stake being sold by Lady Nina Bracewell-Smith, the club's fourth-largest shareholder.

Dangote is understood to have registered his interest in buying the holding with Blackstone, the American finance house that has been given the job of finding a buyer for the shares.

Bracewell-Smith's stake is currently worth 96 million pounds, but she is seeking up to 160 million pounds for the shares, The Times Online reports.

Dangote is a passionate football fan and Forbes magazine had recently ranked him among the world's 500 richest people, with a fortune estimated at 2.5 billion dollars.

He has helped the Nigerian national football team with cash presents and has stood for the post of Nigerian Football Association President. (ANI)

Story first published: Sunday, May 23, 2010, 13:06 [IST]
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