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One of the richest businessmen in Vietnam has declared an interest in buying a big stake in Arsenal. Doan Nguyen Doc, chairman of the Hoang Anh Gai Lai club (HAGL) has said that he wants to buy a 20 per cent stake in the club, although it is not clear where the shares might come from given that Alisher Usmanov is in the market for any that become available. Duc has hired a firm of consultants to carry out due diligence on Arsenal's finances. He will also have to secure permission from the Vietnamese government as indirect investment in overseas markets is difficult legally. Duc admitted, 'We know that it takes time for us to reach the target, but we have a determination, and project the target to be realised over the next two to three years.'
Duc is chairman and owner of a majority stake in HAGL, which is one of the leading clubs in the Vietnamese league. The team signed a technical and marketing agreement with Arsenal in March 2007 aimed at building a new youth academy in Vietnam and developing the English club's presence in Asia. In October, Duc met Arsene Wenger in London and Arsenal is to play two friendlies against HAGL. Although the shares of the Arsenal board are in 'lockdown', Stan Kroenke with his 12.1 per cent stake has not formally signed up to the agreement.
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