Home > Overseas Investment News > AC Milan Move One Step Closer to Chinese Takeover as Investors Pay Second Deposit for the Serie A Club
AC Milan Move One Step Closer to Chinese Takeover as Investors Pay Second Deposit for the Serie A Club
2016-12-14
Brief:The group of Chinese investors buying AC Milan have paid a second deposit of £84million as they look to complete their purchase of the Serie A club.
The group of Chinese investors buying AC Milan have paid a second deposit of £84million as they look to complete their purchase of the Serie A club.

The completion of the deal had been scheduled for Tuesday, but last week Silvio Berlusconi's holding company and Sino-Europe Sports agreed to a three-month delay, postponing the closing of the deal until March 3.

The agreement required Sino-Europe to provide another €100m, roughly £84m, by Monday - in addition to the €100m already paid by the consortium.
 
Chinese investors have moved one step closer to completing their takeover of AC MilanSilvio Berlusconi curently owns 99.93 percent of the club, which he purchased 30 years ago
 
A statement released on Tuesday by the Chinese consortium confirmed the sum had been deposited.

The deal with Sino-Europe, which includes the participation of a Chinese state investment fund, values Milan at around £622m.

Berlusconi owns 99.93 percent of the club, which he purchased 30 years ago.

AC Milan are currently third in Serie A and trail leaders Juventus by seven points following Monday's 1-0 defeat to Roma.
 
Berlusconi could become the club's honorary president after the takeover is completedAC Milan suffered a 1-0 defeat away to Roma on Monday and remain third in Serie A
 

Daily Mail

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