The Kuwaiti-based businessmen Fawaz, Abdulaziz and Omar Al-Hasawi have agreed to take control of the two-time European Cup winners after reaching terms to buy the late Nigel Doughty's controlling stake.
In a statement issued on the npower Championship side's website, the Al-Hasawis said: "It is an honour and privilege for the Al-Hasawi family to assume control of this great club steeped in history and with the outstanding legacy left by its previous owner Nigel Doughty."
It continued: "We know there are challenging times ahead of us to bring the club back to its glory days and we look forward with excitement towards a new successful future.
"Over the next few weeks we will be working closely with our players, on-field and off-field team members in preparation for the forthcoming season."
The family will be attendance for a press conference at the City Ground this Saturday. The statement added: "This is a tremendously motivating time for the family and club and you can be assured of our best efforts in bringing the Reds back to the top of the table."