NEWS
Sunday March 26 2017
Berlusconi stays as Milan President

The closing is set for April 14 with new US funds via Luxembourg, but Milan are expected to retain Silvio Berlusconi as Honorary President.

On Saturday there was a breakthrough in the takeover of the club that has been dragging on for almost a year.

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Saturday March 25 2017
Milan: 'Closing set for April 14'

The Milan “funding is complete” and the takeover closing is set for April 14, confirmed a statement from Silvio Berlusconi’s Fininvest company.

Yonghong Li shut down Sino-Europe Sports today and instead poured all the funds into a new holding company, Rossoneri Sport Investment Lux, based in Luxembourg.

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NEWS
Saturday March 25 2017
New twist in Milan takeover

The Milan takeover is getting more complex, as Sino-Europe Sports is disbanded, making Yonghong Li the sole owner funded by several different loans.

The conglomerate had been set up to bring together numerous Chinese and Asian investors who were aiming to buy up the club from President Silvio Berlusconi and his holding company Fininvest.

As there were more and more delays to the closing, which was originally meant to be last year, it became apparent the investors were also dwindling.

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Saturday March 25 2017
SES hunt for new Milan loans

According to the latest reports, Sino-Europe Sports hope to complete the Milan takeover with €200m on loan from Elliott Management Corporation.

The closing has been repeatedly postponed due to a lack of funds and SES were meant to hand over a new €100m deposit by last night, but only €50m arrived with financial guarantees on another €50m.

This would prompt the Rossoneri to give Sino-Europe Sports until April 14 to come up with the remaining €160m for the closing.

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Wednesday March 22 2017
Milan receive just €20m from SES

According to several reports, Sino-Europe Sports have paid €20m, but Milan want the full €100m deposit by Friday.

The takeover by a Chinese conglomerate remains up in the air after the closing was postponed several times over the last few months.

Silvio Berlusconi’s Fininvest company are prepared to delay the closing further, but only if they receive another non-refundable €100m deposit by this week.

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Wednesday March 15 2017
Haixia pulls out of Milan takeover?

According to financial experts Bloomberg, Sino-Europe Sports have lost the backing of Haixia Capital Management, leaving just Yonghong Li to buy Milan.

The takeover has been delayed repeatedly due to a lack of funds and the ever-changing group of investors behind SES remains mysterious.

A third €100m deposit is expected to be paid today, taking the total sum already invested to €300m, with the closing hopefully on April 7.

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Saturday March 4 2017
Milan investors 'evaporated'

The Milan takeover by Sino-Europe Sports could be abandoned and Silvio Berlusconi keep the €200m, but financial analysts have “never seen anything like it.”

The closing has been postponed repeatedly since the initial agreement in August 2016 and had been due for Friday, but that deadline also passed without the necessary funds.

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Thursday March 2 2017
Could Milan abandon takeover?

Friday’s shareholder’s meeting will be decisive for the Milan sale to Chinese investors, but there are reports Silvio Berlusconi could pull the plug.

The situation has been dragging on since pre-season and the closing of the sale to Sino-Europe Sports postponed repeatedly.

It was meant to be finalised tomorrow, but over the last few days reports emerged that SES did not have the necessary €320m ready.

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Thursday March 2 2017
Milan closing moved to April 7?

According to the latest reports, the closing for Milan’s sale to Chinese investors will be postponed to April 7 with a new €100m deposit.

The closing was meant to be tomorrow, having already been postponed numerous times, but problems emerged with the remaining €320m to be handed over to Silvio Berlusconi’s holding company Fininvest.

Pasquale Campopiano, who has been the foremost authority on the entire affair since it started last year, claims the closing will formally be postponed to April 7.

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Tuesday February 28 2017
Milan closing postponed to April?

The Milan closing could be postponed by another 30 days with a new €100m payment, as Sino-Europe Sports don’t have the €320m.

The closing had been all set for Friday March 3 and until this afternoon it had seemed to finally be on track.

Milan TV confirmed “there are some meetings on-going between Fininvest and Sino-Europe Sports, as some small problems have emerged that should be clarified, one way or the other, by tonight or tomorrow morning.”

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