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Poultry firm Venky's have become the first ever Indian owners of an English Premier League club after they completed a $36 million takeover of Blackburn Rovers.
The deal was confirmed on Rovers' website Friday as the club's board announced it had sold its 99.9% shareholding to Venky's London Limited, a newly formed company owned by the Rao family of India.
Venky's paid 17.17 pence (27 cents) a share and will now make an equivalent offer to the minority shareholders. They have a range of business interests in India and overseas but their flagship company is Venkateshwara Hatcheries Private Limited.
The takeover ends Rovers' long association with previous owner Jack Walker, who died in 2000. He turned the club into a top flight force, culminating in their Premiership title victory under Kenny Dalglish in the 1994/95 season.
Unlock Sony Ericsson codes
Poultry firm Venky's have become the first ever Indian owners of an English Premier League club after they completed a $36 million takeover of Blackburn Rovers.
The deal was confirmed on Rovers' website Friday as the club's board announced it had sold its 99.9% shareholding to Venky's London Limited, a newly formed company owned by the Rao family of India.
Venky's paid 17.17 pence (27 cents) a share and will now make an equivalent offer to the minority shareholders. They have a range of business interests in India and overseas but their flagship company is Venkateshwara Hatcheries Private Limited.
The takeover ends Rovers' long association with previous owner Jack Walker, who died in 2000. He turned the club into a top flight force, culminating in their Premiership title victory under Kenny Dalglish in the 1994/95 season.