Newcastle United takeover vehicle company CLOSED DOWN as buyers move on

A company set up to facilitate a potential takeover of Newcastle United has been closed down.
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Monochrome Acquisition Limited, set up in 2019, has today filed a ‘notice for compulsory strike-off’, which effectively means the company will cease to exist by next week.

The full filing will be available to view on November 17.

The takeover vehicle company was formed by the Bin Zayed Group last summer, with the high-profile bid, led financially by Sheikh Khaled – a Dubai royal – failed to convince Mike Ashley to sell up.

Monochrome Acquisition Ltd has been struck off and will cease to exist after BZG moved on from a Newcastle United takeover.Monochrome Acquisition Ltd has been struck off and will cease to exist after BZG moved on from a Newcastle United takeover.
Monochrome Acquisition Ltd has been struck off and will cease to exist after BZG moved on from a Newcastle United takeover.
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BZG failed with three separate bids for United as their push for control at St James’s Park was undermined by the group’s naive public relations approach, which included key takeover figure Midhat Kidwai conversing with fans via WhatsApp, after his number was leaked on Twitter.

Kidwai and Khaled, the two sole directors of Monochrome Acquisition Ltd, are in the process of completing a buyout of Championship outfit Derby County.

Their takeover was last week ratified by the EFL.

Mike Ashley was never seemingly convinced by the legitimacy of the BZG bid.

In a 2019 interview with the Daily Mail, Ashley said: “The last bid, the one from UAE, he's a prince and he's got £38bn or £100bn, all these numbers — well, why would you even care what you're paying then?

"What difference would £10m either way make?

"You would want speed, you would want certainty, you would want the keys and to get on with it.

"I will not stand in the way of Newcastle United.”