According to reports, Africa’s richest businessman, Aliko Dangote, is set to acquire a 60% stake in Valenciennes, a French Ligue 2 football club.
This is the latest move by the Dangote Group to expand its investment tentacles to the sports industry, after its failed attempt to buy Arsenal, a Premier League team.
The Dangote Group is the biggest industrial conglomerate in Africa. The Group has a presence in many sectors including petroleum, cement and agriculture. The Group’s interest in sports is a strategic move towards varying its investment portfolio and enlarging its presence in the global sports industry.
Valenciennes, a football club based in the northern French town of Valenciennes, was founded in 1913. The club currently plays in Ligue 2, the second tier of French football and plays its home games at the Stade du Hainaut.
Valenciennes’ acquisition by the Dangote Group will offer a fresh injection of funds and expertise to the club. Also, it will offer an opportunity for the club to gain from the global network and resources of the Dangote Group.
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