AC Milan agrees to sell for €550m to Chinese consortium?

AC Milan agrees to sell for €550m to Chinese consortium?

A Tuttomercatoweb is said to have reported that Silvio Berlusconi has accepted a Chinese consortium’s €550m offer to buy AC Milan.

AC Milan agrees to sell for €550m to Chinese consortium?

Chinese businessmen have offered to buy AC Milan

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The group has been granted the exclusive right to negotiate a takeover deal believed to be around 70 per cent.

Berlusconi who was initially said to be a stumbling block who intended to maintain an active role even after sale is reported to have softened his stance.

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The former Italian Prime Minister has accepted an offer of €550m, with the agreement that the Rossoneri’s €250m debt will also be paid-off.

The figure mentioned is not clear as to how much equity will be sold, but it’s believed to be a majority stake, with the final details set to be announced.

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