NEWS
Friday December 16 2016
Sino-Europe ‘worth over €1tn’!

Three more names of those potentially involved in Sino-Europe Sports’ takeover of Milan have been revealed as the consortium is reportedly worth over €1tn.

Sino-Europe paid their second instalment of deposit on Tuesday, which took them up to €200m of the €520m agreed with Silvio Berlusconi’s Fininvest for the purchase of Milan.

Now, according to ANSA, three more names have made themselves identifiable, a sports company, financial group and bank, after Yonghong Li and Haixia Capital at the beginning of October.

The first is Huangshi Zhongbang Sports Development, a company in the sports sector, with over €500m in the bank and around €1.8bn in assets.

After that comes China Huarong, a public company that specialises in financial asset management, with assets amounting to €145bn.

Finally is China Industrial Bank Asset Management, a company that forms part of China’s most-equitable bank, worth around €780bn.

Gazzetta dello Sport claims at least three members of Sino-Europe manage over €1tn in assets, which likely includes the financial group and bank.