Soccer-U.S. based Krause Group buys Serie A club Parma

Italian Serie A soccer club Parma has been taken over by the U.S.-based Krause Group, the club said in a statement on Friday.

Parma said that the Krause Group had bought a 90% stake from previous owners Nuovo Inizio, who would retain a 9% stake while the remaining 1% would stay with a company that represents fans. The deal was completed in Milan on Friday, the club said. (Writing by Brian Homewood; Editing by Toby Chopra)