Investcorp set to close on €1bn acquisition of AC Milan

AC Milan

April 27 – AC Milan could be in the ownership of Bahrain-based private equity group Investcorp by the end of this week, according to reports.

Italian financial paper Il Sole 24 Ore is reporting that Investcorp are on track to sign the contracts by Friday.

Investcorp currently has offices in the United States, United Kingdom, Saudi Arabia, Qatar, UAE, India, China and Singapore and has more than $37 billion of funds under management.

Media entrepreneur and former Italian prime minister Berlusconi sold the club to Chinese investor Li Yonghong in 2017 for €740 million, including debts, before US-backed venture capitalists Elliott Management later took control. The club is priced at about €1 billion.

Elliott took over the club in 2018 when Yonghong defaulted on the repayment of part of a €300 million package he used to finance the purchase of the Rossoneri from Berlusconi.

AC Milan are currently top of Serie A, two points ahead of Inter Milan with four games to play, though Inter have a game in hand.

Contact the writer of this story at moc.l1653161842labto1653161842ofdlr1653161842owedi1653161842sni@w1653161842ahsra1653161842w.wer1653161842dna1653161842