By Laurence Kilgannon, Yorkshire Correspondent A family consortium led by Leeds United chairman Salah Nooruddin has acquired a significant stake in the Championship club's parent Gulf Finance House (GFH).
The bank, which is headquartered in Bahrain, said the main drive behind Nooruddin's investment was the potential business value of GFH and the bank's trading performance. GFH describes Nooruddin as "a prominent business player in the Bahrain market. who participated recently with GFH in the newly undertaken investment opportunities including the investment in the Leeds United Football Club where he serves as the club's chairman". Noorudin's consortium has acquired a 5.71 per cent stake in GFH while the Leeds chairman will join the bank's board. Nooruddin joined the board of Leeds United in late April before being appointed vice chairman in May when the club confirmed he was the holder of a 3.33 per cent stake in LUFC Holding Ltd. Then, in July, GFH Capital appointed Nooruddin as chairman with David Haigh, deputy chief executive of GFH Capital, taking on the role of managing director. By then Envest, an investment vehicle owned by Nooruddin and his wife, was listed as owning more than 10 per cent in Grand Cayman-based LUFC Holding Ltd. _______________________________________________ Leedslist mailing list Info and options: http://mailman.greennet.org.uk/mailman/listinfo/leedslist To unsubscribe, email [email protected] MARCHING ON TOGETHER
