Millionaire Saudi Prince Abdullah bin Mosaad has completed the acquisition of French second-tier club Chateauroux, his United World Group announced on Tuesday.

La Berrichonne, who are currently bottom of Ligue 2, are the fifth side to be taken over by the group following their previous takeovers of English Premier League strugglers Sheffield United, Beerschot in Belgium, India's Kerala United and Al Hilal United in the UAE. 

"United World is proud to announce the acquisition of the French football club La Berrichonne de Chateauroux," said a statement from the Switzerland-based group. 

"United World's decision to invest in France is not a difficult one given the level of development the game has reached over there specially over the last decade, with the country hosting one of the top five leagues in the world that generates hundreds of millions of global viewership every year.

"More importantly, France has cemented its reputation for being one of the biggest, if not the biggest, 'factory of football talents' worldwide."

No figure has been put on the deal but the prince told AFP last week it was higher than the bargain basement price of 2.8 million euros ($3.33 million) which was mentioned in several media.

"Our vision is to make La Berrichonne de Chateauroux a competitive, community-based football club playing at the highest level possible in France," said the statement. 

That vision may take some time to accomplish because after four seasons in the second tier, the club has won just four of their 28 games and is now staring at relegation.

Chateauroux, in central France, have only spent one season in the top flight, in 1997/1998 but they did reach the French Cup final in 2004 where they lost 1-0 to Paris Saint-Germain.