Leicester City owners King Power Group have completed their purchase of Belgian second-tier club Oud-Heverlee Leuven.
The group's chief executive Aiyawatt Srivaddhanaprabha, who is the Foxes vice-chairman, has been appointed to the club's board after a 92% acquisition was finalised.
Srivaddhanaprabha is quoted by Sky Sports News as saying: "This is an exciting development for the King Power Group and an opportunity for us to work with an aspirational club to realise its significant potential.
"Through sustainable investment in both personnel and facilities, engagement with supporters and mobilising the club within its community, it is our long-term objective to re-establish OH Leuven as a competitive force in Belgium's top flight.
"We are very much looking forward to working with OHL's existing management and staff, whose knowledge and expertise of the club and their community will be vital to the implementation of a successful long-term development plan."
OH Leuven narrowly avoided relegation last season, after having been relegated from the Pro League, Belgium's top division, at the end of 2015-16.