Dangote confirms Arsenal buy-out bid

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Aliko Dangote has confirmed he wants to launch a bid to buy Arsenal. PHOTO/File

Aliko Dangote has confirmed he wants to launch a bid to buy Arsenal. PHOTO/File

LONDON, June 17- Africa’s richest businessman, Aliko Dangote, has confirmed he intends to lodge a bid to become majority shareholder of English Premier League giants Arsenal.

The Nigerian billionaire is close to completing an oil refinery in his homeland, which would in turn finance his plans to purchase the north London club.

Dangote, who is ranked 67th on the Forbes rich list with an estimated wealth of £11.5bn, told BBC Hausa: “When we get this refinery on track, I will have enough time and enough resources to pay what they (Arsenal) are asking for.”

The entrepreneur had previously been interested in purchasing the 15.9 percent stake sold to Stan Kroenke for £123 m in April 2011 but had to pull out due to various reasons.

Dangote continued: “There were a couple of us who were rushing to buy, and we thought with the prices then, the people who were interested in selling were trying to go for a kill.

“We backtracked, because we were very busy doing other things, especially our industrialisation.”

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