Laxey To Buy Scottish Soccer Team Stake

Jun 7 2013 | 11:31am ET

A hedge fund is set to become among the bigger shareholders of one of Scotland's most august soccer teams.

Charles Green, the former CEO of Rangers Football Club, will transfer more than 700,000 shares to Laxey towards the end of the year, when he is able to do so. The deal between the two sides was struck in October.

A consortium led by Green bought Rangers out of bankruptcy last summer. Green remains the club's largest shareholder.

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