China’s Suning opens talks on €900m sale of Inter Milan

January 15 – Italy’s Inter Milan may have new owners in a matter of months. Suning Holdings has reportedly opened talks with venture capital partners over selling its stake.

Chinese e-commerce giants Suning Holdings Group hold 68.55% of Inter, while Hong Kong-based venture capital group LionRock Group also hold a stake. Suning has now opened talks with British private equity investors BC Partners, a fund specialized in technology, media, and communications, about a takeover.

Investment bank Goldman Sachs is reportedly exploring potential fundraising options for the sale of the club currently priced at a chunky €900 million. Private equity firms EQT and Arctos Sports Partners are said to be among those interested. In 2016, Suning spent €270 million for its majority stake.

Inter has spent heavily on marquee signings since then to land a first Serie A title in a decade, but without success so far. Looking forward, Inter want to focus on building a new stadium and transition away from the old but iconic San Siro.

The coronavirus pandemic has caused economic havoc in the football industry and at many of Italy’s debt-laden clubs the need for economic stability and a cash injection is more vital than ever, but investors believe there is room for significant commercial growth.

In November a private equity consortium led by CVC Capital Partners took a step closer to acquiring a stake in Serie A’s new commercial rights business after clubs agreed to accept the group’s €1.7 billion offer. That deal is in the final stages of completion.

Contact the writer of this story, Samindra Kunti, at moc.l1614344890labto1614344890ofdlr1614344890owedi1614344890sni@o1614344890fni1614344890