Published On: March 26, 2017 11:09 AM NPT By: Reuters
Chinese investors set to buy AC Milan have created a new company structure in Luxembourg to finalise acquisition of the Serie A soccer club, a spokesman for the consortium said on Saturday.
Rossoneri Sport Investment Lux will replace the Chinese bidding group, identified by AC Milan's owners as Sino-Europe Sports Investment Management Changxing Co Ltd, the spokesman said in a statement, adding that the new entity was controlled by investor Li Yonghong.
The company is "completely external to China", the statement said. The accord - originally inked in August and expected to be signed off first in December and then in March - is set to be finalised on April 14, the statement added.
The original agreement values the club at 740 million euros ($780 million) including 220 million euros of debt.
MILAN, April 13: Italian former prime minister Silvio Berlusconi finalised his troubled sale of soccer club AC Milan to a Chinese-led... Read More...
Chinese company Chongquin Machinary & Electronics Holding (Group) Co Ltd (CME) has partnered with People’s Energy Ltd (PEL) to construct... Read More...
KATHMANDU, Jan 17: Nyadi Hydropower Limited (NHL) has awarded its civil, hydro mechanical and electro mechanical contracts to China-based Zhejiang Hydropower... Read More...
Leave A Comment