Investcorp’s Executive Chairman Mohammed Al Ardhi confirms that he hasn’t reached an agreement with Elliott over Milan‘s takeover.
The Bahrain-based fund had been in talks with Elliott for several weeks and the exclusive negotiation period ended at the beginning of May.
However, the fund’s offer was €800m in cash and the other €400m as debt to banks. Elliott tried to raise the cash offer without reaching an agreement, so talks between the two parties are now over and Investcorp are no longer in the race to acquire the Serie A champions.
Milan owners are now in talks with Liverpool’s minority shareholders RedBird Capital Partners, who are the favourite to buy the Rossoneri.
Milan President Paolo Scaoni said three days ago that he hopes negotiations between Elliott and RedBird end before the summer transfer window begins. According to the latest reports in Italy, RedBird and Elliott could sign documents and finalise Milan’s takeover next week.
We had discussions with Elliott about a potential investment in #AC Milan. As can be the case with premium deals, a commercial agreement wasn’t reached, and we have mutually decided to end talks. We wish AC Milan the best for next season and beyond
— محمد محفوظ العارضي (@MMAlardhi) May 26, 2022