Xia, the first mainland Chinese to fully own an English team has taken over the Midlands outfit from American Randy Lerner in a deal approved by the Football League.
A new board will be appointed later this week, the Midlands club said on their website.(www.avfc.co.uk)
Former European champions Villa were relegated from the Premier League last season.
(Reporting by Nivedita Shankar in Bengaluru)
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