Video: Peter Lim gets a hero's welcome at the Mestalla

Singaporean billionaire Peter Lim was greeted by cheering crowds as he completed his takeover of La Liga club Valencia CF over the weekend.

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The Singaporean businessman's Meriton Holdings finally agreed a deal to purchase a 70% stake in the Spanish club after protracted negotiations over the last few months.

“We are writing a new chapter in Valencia. Over the past few months, we have started to restore the pride of Valencianistas,” said Amadeo Salvo, President of Valencia.

“With Mr. Lim, we are going to be stronger. To be successful, we must work hard and stand unite as a family. Peter Lim is now a very important member of our family and we want to say ‘Welcome, Peter Lim!’ ”

Based on the hordes that turned up to cheer their new owner on over the weekend, it certainly seems to be a very popular takeover!