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Hong Kong investors to buy Sochaux club from Peugeot

Xinhua, February 18, 2015 Adjust font size:

A Hong Kong listed electrical components manufacturer said Tuesday they want to buy French football club Sochaux from the Peugeot car company and the club president confirmed to AFP on Wednesday.

Sochaux president Denis Worbe confirmed to AFP that the Tech Pro Technology Development company sent a letter of intent to Peugeot and were proposing a "credible project for the club."

The Hong Kong company offered seven million euros for the club (7.89 million US dollars) for "all the issued share capital and voting rights."

According to Worbe, Tech Pro and its Ledus subsidiary, which makes LED lights, wants to use Sochaux to promote its expansion in Europe.

"What is important to us is to have a solid project. It is crucial that the long and important history of FC Sochaux in French football can develop over the long term with shareholders other than the PSA Group," Worbe told AFP.

Sochaux was created by the Peugeot family in 1928 and spent a record 66 seasons in the French first division until they were relegated last year.

PSA Peugeot Citroen announced last year that it wanted to sell the football club and concentrate on auto racing.

Tech Pro followed Chinese billionaire Wang Jianlin in buying into European football. Wang bought a 20 percent stake in Atletico Madrid last month. Endi