The majority owner of Panathinaikos FC, one of the most popular football teams in the country and the most successful Greek side in European play, on Tuesday announced formal agreement to sell half his shares to a Thai business executive.
The long-awaited deal, which was signed on Saturday, will see Yannis Alafouzos, a shipping and media owner, transfer half his shares of the club to Pairoj Piempongsant’s Pan Asia Investments Ltd.
A lengthy biography of Piempongsant on the Empire Asia Group’s website identifies him as the founder and senior partner of the company.
