Marseille sale seemingly dead in the water

0 Comments | AFP, March, 2007

MARSEILLE (AFP) — Canadian businessman Jack Kachkar's attempt to buy French side Marseille has seemingly fallen through after incumbant owner Robert Louis-Dreyfus refused his request for more time to buy the club.

The 43-year-old Kachkar, president of pharmaceutical firm Inyx which employs more than 575 people in North America and Europe, made an offer in January of between 100 and 150 million euros to buy the shares of major shareholder Louis-Dreyfus.

And according to a statement read by Kachkar in January, the sale should have been completed in February.

The businessman signed a final sale agreement on March 1, but several requests for extensions on payment persuaded Louis-Dreyfus to discontinue the sale.

"Jack Kachkar on Thursday asked Robert...