NEWS
Wednesday March 3 2021
Inter sale: Saudi Arabia's Public Investment Fund interested as new bid revealed

According to reports in Italy, the Public Investment Fund of Saudi Arabia has shown interest in Inter, while Fortress Investment Group has already placed a bid to buy the club from Suning. 

Suning is looking for "suitable partners” for Inter and according to reports in Italy, the Zhang family is ready to sell a minority or majority stake in the club.

The British fund BC Partners has been the first to show interest in acquiring a majority share in Inter, but the two parties have not yet reached an agreement as Suning values the club at €1 billion.

According to Il Sole 24 Ore, however, there are new funds willing to discuss a possible acquisition of the club.

The economic paper reports, Fortress, an American investment management firm, has made a preliminary bid to acquire a majority stake in the club.

“The offer is partly equity and partly financing and would also be aimed at refinancing the existing debt,” the paper reports.

As per La Gazzetta dello Sport, Saudi Arabia’s Prince Mohammad bin Salman is also interested in Inter and would be open to acquire a minority stake in the club through the Saudi Public Investment Fund.

Zhang Jindong revealed last week Suning will cut down investments “irrelevant to retail business.”