The subjects involved in the affair are keeping things close to the vest, but it is indeed Investcorp that’s trying to take over Inter. They put forth an offer directly to Raine Group, the bank that received the mandate to seek buyers or investors, Abu Dhabi Sports TV informs (via TuttoSport).
The Bahraini fund has been working on their bid for a few months. CEO Mohammed Alardhi has been collecting capital to try sealing the deal. The Zhang family set the price at €1.3B. They are conducting their due diligence on their books.
On the other hand, it’s far from certain Suning will indeed agree to give up Inter even if the bidders came close to their request. Steven Zhang in particular wants to keep ahold of it. He and his father turned down €800M from BC Partners two years ago.
The apical executive is currently in China. Rather than working on the sale, he’s searching for ways to refinance a massive loan from Oaktree that expires in May 2024. In any case, the decision isn’t imminent. The timetable is provided by the deadline.
The ownership used Inter as collateral. They’d have to cede the club directly to the American fund if they couldn’t find the money. The same thing that happened with Milan between Yonghong Li and Elliott a few years ago. The alternative is to sell beforehand.
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