Mazars has confirmed to BizAsia.co.uk that it is now exclusively in talks with the “preferred buyer” for Club Asia.

The news comes after it had shortlisted favourite candidates last Friday.

Mazars, the company that has been handling the administration of Club Asia refused to divulge further information about the buyer.

It went on to say that neither Mazars nor the buyer were in a position to release any information due to contractual reasons. The buyer will remain anonymous until all terms have been finalised between the two parties and media regulator Ofcom.

A spokesman for Mazars said it will announce the new buyer(s) next week as it is unlikely the smaller details will be finalised this week itself.

Keep it with BizAsia.co.uk for the exclusive newsbreak.