Canadian businessman pens Marseille takeover

MARSEILLE, France, March 1, 2007 (AFP) – Canadian businessman Jack Kachkar said Thursday he has completed the takeover of struggling French footballing giants Marseille after signing the final sale agreement with current owner Robert Louis-Dreyfus.

“I’m very happy to buy Marseille. This time has been a real trial for my family, advisors and myself because of the incessant rumours and the campaign of denigration which we were subjected to,” said 43-year-old Kachkar.

“The transfer of deeds will be made in the coming weeks. “In this way I promise I’ll do everything in my power to make Olympique Marseille a champion club in all they undertake.”

A spokesman for Louis-Dreyfus insisted however that the sale would not not be finalised “until Kachkar has paid the price agreed by the two parties”.

Kachkar, president of pharmaceutical firm Inyx which employs more than 575 people in North America and Europe, agreed to pay an estimated 115 million euro (151 million dollar) for the club.

The Canadian said the purchase had been possible with the support of “international banks who have links with France and the world of sport”.

Marseille have had an inconsistent season, dropping three places to eighth in the French league after suffering a 3-0 drubbing at Toulouse on Saturday.

Subject: French news