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Sino-Europe puts up one more tranche for Milan
Print Edition
THE group of Chinese investors buying AC Milan has put up another 100 million euros (US$107 million) for the purchase of the Serie A club.
The completion of the deal had been set for yesterday, but last week Silvio Berlusconi’s holding company and Sino-Europe Sports agreed to a three-month delay, postponing the closing until March 3. The deal required Sino-Europe to provide another 100 million euros by Monday — in addition to 100 million euros already paid — and yesterday a statement 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 740 million euros. Berlusconi owns 99.93 percent of the club, which he purchased 30 years ago.
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