Whyte to part with Rangers shares
May 11 , 2012
Rangers owner Craig Whyte has agreed to transfer his majority shareholding to two parties involved in takeover talks, according to the soccer club’s administrators Duff and Phelps
Duff and Phelps have indicated that four groups have shown interest in buying the troubled Scottish club.
Whyte’s 85 percent shareholding is required for the club to exit administration via a Company Voluntary Arrangement.
Duff and Phelps hope to complete a sale by Sunday, the end of the season for Rangers.
Rangers entered administration on February 14 after failing to pay around $14.5 million in taxes.