Chinese company buys Espanyol

Madrid, Nov 2: Chinese company Rastar Group has bought Spanish football club Espanyol, it was confirmed on Monday.

The news was given by the former president of the Barcelo-based club, Dani Sanchez who had, along with Ramon Condal, been one of the club’s majority shareholders, reports Xinhua.

Sanchez confirmed in Spanish sports paper Diario AS that the Rastar Group had spent 65 million euros (around $72 million) to take control of the club and also to invest in sporting matters. IANS