DBasia.news – Suning Group reportedly will sell Inter Milan. Suning asked Goldman Sachs to take on a buyer willing to acquire the Nerazzurri for at least 1.2 billion euros.
The news that Suning wants to sell Inter Milan has resurfaced. This time, it was journalist Fabrizio Biasin who is known to be close to the Nerazzurri management who revealed it.
Suning want to let Inter go as it is challenging to repay the 275 million euro loan in 20 months to Oaktree. Suning needs more funds because it needs to disburse 400 million euros as bonds with an interest rate of 6.75%.
Suning’s position is increasingly cornered as the football business in Italy has been tough after the corona virus pandemic. Moreover, business in China has not really bounced back.
Therefore, Suning asked Goldman Sachs to find a company that wanted to purchase Inter. Previously, Goldman Sachs also served as a bridge for AC Milan’s management with an investment company from the United States, RedBird Capital Partners. Both parties agreed to a transaction worth 1.3 billion euros to buy Milan.
So far, there are several parties who show interest in Inter Milan. A Bola reports that the Public Investment Fund, which is also the owner of Newcastle United, is again interested in Inter. Previously, the Saudi Arabian company had made an offer of up to 900 million euros to obtain Inter.
The second potential buyer is Sacramento Kings owner Vivek Ranadive. The man who is of American-Indian descent wants to expand his business into the world of football after previously struggling in the NBA.