Shares in FC Copenhagen owner boosted by takeover talk

Reuters  |  COPENHAGEN 

(Reuters) - Shares in & Entertainment, owner of soccer club FC Copenhagen, climbed on Tuesday as Danish media reported investor interest in buying into the business.

Parken's largest shareholder, pension fund LD Fonde, confirmed to business newspaper that it is in dialogue with Britain's about selling its 29 percent stake in the company.

The report did not include any details, and LD Fonde did not immediately respond to Reuters' request for comments.

Business had earlier reported that foreign investors could make a takeover offer this week valuing the company at up to 1.27 billion Danish crowns ($195 million).

The investors, backed by U.S. fund Fortress, would pay 105-120 crowns ($16.1-18.4) per share, Inside Business reported, based on conversations with several sources close to the matter.

The company said in a statement that it had not been in dialogue with foreign investors and that it had not received an offer.

Founded by a merger of two clubs in 1992, FC have since won the 12 times. Much travelled Senegalese striker is one of their highest profile players.

The parent company also operates the Telia Parken national stadium in and holiday activity centres.

Parken shares initially rose 32 percent to 109 Danish crowns after the report and traded up 21 percent at 100 crowns at 1048 GMT.

($1 = 6.5200 Danish crowns)

(Reporting by Teis Jensen; Editing by Jason Neely/Keith Weir)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, January 08 2019. 16:28 IST