Takeover talks are intensifying in Milan, as Lega Serie A giant FC Internazionale Milano is set to decide their new ownership, financial assets, and future. According to Italian sports daily Corriere dello Sport, the Public Investment Fund (PIF) of Saudi Arabia has made an offer to purchase a 30% stake at FC Inter.
The Saudi offer joins British private equity investment fund BC Partners and US Fortress Investment Group, which last month reportedly made bids for the Milan-based club. It is yet to be seen which proposal will win Suning’s favor, given that the two are quite different.
After having entered exclusive talks with the Nerazzurri, in February London-based BC Partners completed the due-diligence and offered $800 million for the takeover, albeit Suning considered it “way short of $1 billion asking price”. Fortress’s offer instead would be one “of a hybrid nature,” and would entail a mix between equity shares and a loan, which would help Suning repaying their expiring bonds worth a total of $445 million, the report continues.
Source: Forbes
By Giacomo Galardini
