Singapore billionaire Peter Lim to bid Liverpool again

Posted by on Oct 12, 2010 | Leave a Comment

Singapore billionaire, Peter Lim has prepared to improve/renew his bid for the Barclays Premier League club due to he failed in an earlier bid to buy Liverpool FC. He is offering to purchase the club for more money than New England Sport Ventures. Peter Lim is the runner-up in the contest and to move toward Liverpool’s board with a sight to make a higher offer for the club.

Lim thinks that his offer was superior to Henry in financial terms. All of Royal Bank of Scotland’s and Wachovia’s £200 million of long-term debt was being offered by Lim to repay, to take on £60 million of other debt and to inject £40 million pounds of working capital. Unlike the American bidders, the whole deal would be also financed by the Singapore businessman without having to borrow any money.

Broughton agreed the deal with their compatriots but Gillett and Hicks for their part are not satisfied with the deal and have gone to court over it. With the club’s unpopular American owners, who are trying to block the takeover bid, that case is scheduled to get under way in High Court of London this week. The case will focus on whether Broughton had the authority to sell the club to New England Sports Ventures (NESV) without the desires of the present owners.

Liverpool chairman Martin Broughton announced last Wednesday that Liverpool would instead be sold to John Henry’s New England Sport Ventures for £300 million ($485 million). As per sources, who are close to Mr. Lim, he was preferring bidder of the club in the closing stages of the auction. He seems to full of confidence by which he would win the contest as he talked about how to announce his takeover with the chairman of Liverpool.

According to Forbes magazine, “Lim is eighth richest man of Singapore with a fortune estimated at $1.6 billion. He is a large shareholder in Singapore-listed Wilmar, the largest palm oil firm of the world, and Singapore fashion retailer FJ Benjamin.

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