Inter Milan close to selling minority stake worth €275M

Business & Finance
20 May 2021 • 12:48 PM MYT
Tribal Football
Tribal Football

Tribal Football covers news from the Premier League, LaLiga and Serie A

Inter Milan are close to selling a minority stake in the club worth €275m.

US investment firm Oaktree Capital Group are set to buy a 30 per cent shareholding in the club, reports Reuters.

The lifeline loan would be granted to Great Horizon Sarl, the Luxembourg-based vehicle through which the Chinese retail giant Suning controls the club, and Inter Milan shares would be pledged to Oaktree as loan collateral, the sources said.

As part of the deal, Oaktree would get a 31% stake currently held by LionRock Capital, a Hong Kong-based investment firm, and at least one place on the club's board, two sources said.

A third source said Tom Pitts, LionRock's head of Europe, would step down from Inter Milan's board of directors.

Oaktree is also one of the main holders of a 375 million euro bond issued by Inter Milan's media unit expiring in 2022, two sources added.

Chinese retail giant Suning, which has owned Inter Milan since 2016, would retain control with its 68.5% holding.