Talks between Fininvest and Sino-Europe Sports for the sale of AC Milan are going on. After the postponement of the second date for the closing, the parties are working to reach a new contract.
Over the weekend the Chinese group of investors and Berlusconi’s family stayed in touch and talks were positive according to the Italian side. The signatures, however, are expected in the coming days, when Fininvest will also receive the third deposit of €100 million (probably coming from offshore funds).
Sino-Europe Sports was not able to complete the closing on March 3rd, 2017, so the Chinese group is now required to pay the deposit not later than 48 hours after the signatures on the new contract. Along with the money and the signing, the announcement of the new extension and the subsequent date for the closing will be stipulated. The date chosen should be April 7th or 14th but it could be postponed to April 21st, 2017, due to the upcoming good Friday holiday and the derby against Inter. Basically, Sino-Europe Sports has another month to raise the necessary funds and pay the €220 million missing to complete the purchase of 99.93% of AC Milan’s shares.