Scotland business

Deadline extended for Goals Soccer Centres takeover bid

Football resting against net
Image caption Goals operates 42 centres in the UK and one in America

East Kilbride firm Goals Soccer Centres has been granted another extension to a possible takeover bid from a Canadian pension fund.

At the end of April, financial regulators extended by two weeks an initial deadline for the Ontario Teachers' Pension Plan to submit a firm bid or withdraw from the process.

The takeover panel has now agreed to a further extension to 11 June.

It said the two parties were still holding talks over a possible offer.

In a statement, the panel said: "The company remains in offer discussions with Ontario Teachers' Pension Plan which is currently reviewing information which has been made available to it, subject to strict terms of confidentiality, by the company.

"The anticipated timetable for the completion of these discussions is consistent with the extended deadline."

The pension fund owns Maple Leaf Sports and Entertainment, which houses a number of Canadian sports teams.

Goals currently has 42 centres in the UK and one in Los Angeles.

In February, the company reported a 21% rise in pre-tax profits to £9.2m, despite being hit by a tax ruling that cost it £800,000.

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