Investcorp and U.S. fund Elliott have ended talks over the buyout of Italian soccer champions AC Milan, a high government of the Bahrain-domiciled asset supervisor stated on Thursday.
Reuters final week reported that Investcorp had placed on maintain its plans to buy the membership, which is owned by Elliott, clearing the way in which for U.S. funding agency RedBird to pursue a deal.
”We had discussions with Elliott a couple of potential funding in AC Milan. As will be the case with premium offers, a industrial settlement wasn’t reached, and we have now mutually determined to finish talks,” Investcorp Government Chairman Mohammed Al Ardhi stated on Twitter on Thursday.
He didn’t give causes for the failure of the talks however added: ”We want AC Milan the very best for subsequent season and past”
Investcorp was final month in unique negotiations to purchase AC Milan from U.S fund Elliott, who took over the membership in 2018 when Chinese language businessman Li Yonghong failed to satisfy some obligations linked to a financing package deal after the acquisition of the group from Silvio Berlusconi the 12 months earlier than.