NEWS
Thursday March 30 2017
Hedge fund on Milan board?

It’s reported that US hedge fund Elliott Management will have someone on the Milan board of directors, as they are financing the takeover.

The closing is set for April 14, as Yonghong Li announced the financing was complete with the aid of a huge loan worth €303m from Elliott.

As part of the deal, news agency Ansa and La Repubblica report that Elliott will have a representative on the new board of directors.

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NEWS
Tuesday March 28 2017
US hedge fund in Milan deal

Reports in the USA say an American hedge fund is providing €253m of the money needed to buy Milan.

Silvio Berlusconi had agreed to sell the club to Chinese consortium Sino-Europe Sports, but founder Li Yonghong dissolved the group.

Instead, a new group called Rossoneri Sport Lux was set-up to complete the deal, in part because of the difficulty of moving money out of China.

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NEWS
Tuesday March 28 2017
Bank to verify Milan funds

Documents have reportedly been passed to the Bank of Italy to verify the origin of the funds being used in the takeover of Milan.

Two deposits of €100m have already been paid by Sino-Europe Sports, but Yonghong Li shut down the consortium over the weekend and will proceed instead with Rossoneri Sport Investment Lux.

Fininvest have confirmed that the closing is now set for April 14, and La Repubblica reports that investigations are taking place into the first two deposits.

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NEWS
Monday March 27 2017
Milan board ratifies takeover meeting

Milan’s board of directors have ratified an associates’ meeting on April 14, which will confirm the club’s takeover.

Sky Sport Italia and Tuttomercatoweb report the approval was given by the board at a meeting was held on Monday at Casa Milan, the Rossoneri’s headquarters.

The first associates’ assembly has been scheduled for April 14, before a second on May 4.

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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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NEWS
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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NEWS
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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NEWS
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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NEWS
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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