AC Milan Sold To Chinese Consortium

By on April 14, 2017

YAHOO GMail

Views: 285

AC Milan
AC Milan

The takeover of AC Milan was completed Thursday, with Silvio Berlusconi selling the club to a Chinese consortium after 31 years in charge.

The group, led by Chinese businessman Yonghong Li, has been attempting to buy Milan for some time but the deal has hit a series of delays and the sale has been postponed twice.

Berlusconi’s holding company, Fininvest, released a statement Thursday announcing that it had completed the transfer of its 99.93 percent stake in Milan to Rossoneri Sport Luxembourg — which was formerly known as Sino-Europe Sports.

 “Today’s finalization gives full effect to the takeover agreement,” Fininvest said in the statement.

The deal requires the investors to spend 350 million euros ($372m) over three years on improvements.

“The buyers have confirmed their commitment to fulfill important recapitalization investments to the balance sheet and strengthen AC Milan’s finances and assets,” Fininvest said.

A general shareholders’ meeting has been called for Friday when the names of the new president and directors will be announced. There is also expected to be a news conference on Friday.

The new owners’ first match will be Saturday’s derby against Inter Milan.

Source cattnews

Posted 14/04/2017 11:19:30 AM

 

YAHOO GMail


 

You may also like...
Runtown Shuts Down Lagos With His ‘One Night...

Coup: APC’s Bad Omen •Party In Disarray •Army...

APC Tramples On Entertainment •To Stop Overseas Music,...

AC Milan Sold To Chinese Consortium

PDP Search For Peace Put On Hold •Warring...

Abuja Airport Ready For Use, Says NCAA

 

Latest News 2019: PDP Reconvenes •Must Reposition To gain Power •APC Anti-graft War Tanks Signature Beyond: The Alpha Art Gallery Muraina Akeem’s Metal-Morphosis Emefiele Dangles Fraudulent Carrot •Sets $40bn External Reserves Mark •APC Flounders On Ato Arinze: A Master Craftsman Buhari Resumes •Talks Unity And Security •Economy Remains Comatose Mohammed Targets Nigerian Brands •Wants To Change NBC Code •Desires Sponsorship For Local League APC Tramples On Entertainment •To Stop Overseas Music, Film Production •Artistes Decry Plan Blair Is In Town •Preaches Good Governance •Plans To Convert Nigerians Bad Economy: Oshiomhole Tackles IBB •Says He Owes Nigerians Apology •APC Fumbles The More Pray For Buhari!!! Pray For Nigeria!!! IBB Too Brandishes Restructuring

 

Most Read AC Milan Sold To Chinese Consortium (285 views) Dino Melaye: Deviant With A Cause (255 views) Arts Teacher Begs Govt. For Better Remunerations (234 views) Abuja Airport Ready For Use, Says NCAA (232 views) Troubled APC Suffers Another Setback •National Convention doubtful •Leadership dispute worsens •National Party Secretariat in ruins (224 views) Ato Arinze: A Master Craftsman (223 views) Lufthansa Returns To Abuja 20 April (213 views) Recession: FG Embarks On Propaganda •Touts False Exit Date •Inflation Remains High (209 views) Muraina Akeem’s Metal-Morphosis (209 views) Serena Williams 5 Months Pregnant (208 views) Fresh Anxiety Over Boko Haram •Report Says Sect Regrouping •COAS Affirms Army Readiness (208 views) June 12: The MKO Abiola Legacy (207 views)

 

Categories Art Business Entertainment General Personality Sports Travels

 

 

Social Media

 

Julius Agwu - Crazy Interview Demands

 

 

Advertisement