Today, La Gazzetta dello Sport explain how InvestCorp, the Bahrain-based asset manager, are still working on finding the agreement and drawing up the documents with Elliott Management.
The newspaper explains that the Arabs are not worried by the Americans' entry in this race to purchase the Italian giants because they know the offer is lower than what they are giving to Elliott and also because talks have been established between InvestCorp and Elliott for more than a month now.
The talks have been taking longer times than initially planned because these types of big transactions (around 1.18 billion euros) need many documents (which are large). Lawyers, investors and banks (Persian Gulf families and the American banks Goldman Sachs and JP Morgan are involved in this big deal to help make it go through. The closing of the deal, writes La Gazzetta could take place once the season is over.
Elliott, for their part, remain calm. The source reminds the readers that the American company did not have to sell AC Milan right now. But, they entered the negotiations due to an attractive financial offer which was submitted first by InvestCorp.
