Deals
Chair of Hull City Bidder GreaterChina Arrested in Hong Kong
- Company says Yip’s arrest doesn’t have material adverse impact
- GreaterChina had agreed to $166 million deal for soccer club
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The chairman of a Hong Kong-based company that said it had a deal to buy British soccer club Hull City was arrested in the former British colony.
David Yip, also executive director at GreaterChina Professional Services Ltd., was taken into custody by the Independent Commission Against Corruption, the company said in a statement on Thursday. No reason was given for the arrest, which has “no material adverse impact” on the business and operations of GreaterChina, it said in the statement.