ZCZC
BSP-17
FBL-ITA-ACMILAN-ELLIOTT-TAKEOVER
US hedge fund Elliott announces takeover of AC Milan
MILAN, July 11, 2018 (BSS/AFP) – US hedge fund Elliott announced Wednesday
it had taken over Italian giants AC Milan after the club’s Chinese owners
failed to repay debt.
Elliott Management pledged to inject 50 million euros to “stabilise the
finances” of the seven-time European champions after Chinese owner Li
Yonghong missed a Friday deadline to repay 32 million euros ($37.5 million).
BSS/AFP/MR/ 1216 hrs