A report by French media outlet Entreprendre suggests that Aliko Dangote, the CEO of Dangote Group, Africa’s largest industrial conglomerate, is close to acquiring a 60% stake in French Ligue 2 club, Valenciennes. Dangote, who had previously expressed interest in buying Premier League club, Arsenal, is reportedly close to achieving his objective of owning a football club.

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Valenciennes, which was founded in 1913 and plays its home matches at Stade du Hainaut, has played 40 seasons in Ligue 1 and 36 seasons in Ligue 2, but has never won the Ligue 1 title. The club has won the Ligue 2 title twice and has played in the French Cup final once. Valenciennes is currently ranked 15th on the Ligue 2 table.