Enic sells stake in AEK Athens
Wednesday, July 11, 2001
Article summary
British firm Enic plc, which has interests in a number of European football clubs, has sold its stake in AEK Athens to Greek company Ippoventure SA.
Article body
British firm Enic plc, which has interests in a number of European football clubs, has sold its stake in AEK Athens to Greek company Ippoventure SA.
33 percent stake
The buy-out of Enic, which owns stakes in Tottenham Hotspur FC and Rangers FC, paves the way for Ippoventure to acquire a 33 percent stake in AEK, who are due to play in next season's UEFA Cup.
Club announcement
"Ippoventure SA will acquire the 33 percent equity of AEK FC Athens under the terms," a club announcement said on Tuesday.
Majority shareholder
The move casts doubt on the continued involvement of Greek-Mexican businessman Alex Sklavenitis, who was announced as the club's new owner in June after talks to buy out both Enic and Dutch majority shareholder NetMed. No shares in the Athens club have yet been transferred to Sklavenitis or his company, Grupo Hercules Marine Services.
Grevenmacher up next
AEK are drawn to play Luxembourg's CS Grevenmacher in the UEFA Cup first qualifying round first leg on August 9.