MILAN, Jan 26 — Milan prosecutors are looking into last year’s €1.2 billion (RM5.6 billion) sale of AC Milan to US private equity fund RedBird Capital from US fund Elliott, a...
MILAN, Jan 26 — Milan prosecutors are looking into last year’s €1.2 billion sale of AC Milan to US private equity fund RedBird Capital from US fund Elliott, a judicial source said today.
The probe, which revolves around alleged embezzlement, originates from a complaint by Blue Skye Financial Partners, a minority investor holding an indirect stake of 4 per cent in the Serie A club, the source said. Elliott, which took over the club in 2018, billed Blue Skye’s legal actions as “frivolous and vexatious”, meaning it believes they have no reasonable basis in fact or law.
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