Chinese group says will own 80 percent of Espanyol

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BEIJING: A Chinese model car maker has agreed to buy a stake in debt-laden La Liga side Espanyol and will end up owning more than 80 percent of the Barcelona club, the company said on Tuesday. Rastar Group struck a deal with two of the club’s key shareholders to acquire between 45.1 and 56 percent of Espanyol at 78 euros ($85.90) per share, it said in a statement. Rastar will inject up to 45 million euros into Espanyol after the acquisition, taking the total cost to around 64 million euros, it added.

AFP

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