AC Mi­lan set to fi­nalise sale to Chi­nese con­sor­tium

New Straits Times - - Sport -

MI­LAN: AC Mi­lan have an­nounced a share­hold­ers’ meet­ing for to­mor­row to com­plete the sale of the club.

Clos­ing the sale to a group of Chi­nese in­vestors has been sched­uled for to­mor­row since a post­pone­ment was agreed at the end of last year by Sil­vio Ber­lus­coni’s hold­ing com­pany and Sino-Europe Sports.

The meet­ing is a for­mal­ity as Ber­lus­coni owns 99.93 per cent of the club, which he pur­chased 30 years ago.

The deal with the Chi­nese group, which in­cludes the par­tic­i­pa­tion of a Chi­nese state in­vest­ment fund, val­ues the club at €740 mil­lion (RM3.6 bil­lion), and re­quires the in­vestors to spend €350 mil­lion over three years on im­prove­ments.

A press con­fer­ence is ex­pected on Satur­day.

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