AC Milan sale – Investcorp put plans on hold to buy Serie A giants
Bahrain-domiciled asset supervisor Investcorp has put on maintain its programs to acquire Italian soccer club AC Milan, a source with information of the talks informed Reuters on Friday.
The source stated that in talks with Milan’s owners, U.S. fund Elliott, Investcorp “couldn’t concur with them on the resolution of a specific issue.”
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The supply declined to say what experienced been the stumbling block in the talks, which have been underway for more than a month.
Italian newspaper Il Sole 24 Ore reported on Friday that investment decision business RedBird was nearing a offer for seven-time European champions Milan well worth about €1.3 billion ($1.4 bn).
That figure could rise as substantial as €1.8 bn about the coming a long time centered on a collection of targets, the report extra.
Spokespeople for Elliott and RedBird declined to remark.
RedBird is presently an investor in Fenway Sports Team, the proprietor of Leading League giants Liverpool and the Boston Crimson Sox baseball workforce. RedBird also has a managing stake in French club Toulouse.
Investcorp experienced been in exceptional negotiations with Elliott on a offer final month but unsuccessful to attain an agreement, allowing RedBird to enter the fray.
