Usmanov increases Gunners holding

February 15, 2008

Red and White Holdings Ltd have increased their shareholding in Arsenal to 24%.

The investment company, whose chairman is former Gunners vice-chairman David Dein, is owned by Russian businessman Alisher Usmanov and London-based investor Farhad Moshiri.

It was formed in August 2007 following the initial sale of Dein's 14.5% stock for £75million, and by October had increased their stake to 23% - making them the second biggest individual shareholder behind director Daniel Fiszman, who has 24.11%.

Usmanov's interest precipitated a 'lock-down' agreement by the Gunners board which expires April - and has an option to be extended - meaning the Uzbek-born metals magnate cannot launch a takeover bid for time being.