(Milan) Bahrain’s government has confirmed that a private equity firm based in the country is in “exclusive talks” to buy seven-time European champions AC Milan, becoming the Italian league’s first investor in the country. Middle East.
Posted at 2:32 p.m.
Three days after the talks emerged, the Bahraini embassy in Britain confirmed in a tweet on Monday that Investcorp was in talks to buy the Serie A leader for US$1.1 billion.
The American company Elliott Management has owned Milan since 2018, when the former Chinese owner failed to repay part of a loan. Former Italian Prime Minister Silvio Berlusconi controlled Milan for more than 30 years before selling it to the Chinese group in 2017.
Neither Elliott nor Milan have discussed talks with Investcorp, and club manager Paolo Maldini said little when asked about it on Friday.
Investcorp, which was founded in Bahrain in 1982, pulled out of the Bahrain stock exchange last year after nearly four decades as it continues its global investment expansion.
The embassy tweet said that Investcorp “manages over $42 billion in assets worldwide. »