MF-DJ: Investcorp complete due diligence process – two teams working on Milan takeover

By Oliver Fisher -

There has been an important step forward in the negotiations between Investcorp and Elliott Management regarding the takeover of the club, a report claims.

According to reports from the MF-DJ agency (via MilanNews) – which is the MF Dow Jones News, an Italian press release service owned by Class Editori – Investcorp have completed the due diligence on Milan’s accounts and are satisfied.

That means that they did not encounter any significant problems or or obstacles to the deal, and the Bahrain fund appreciated Elliott’s work over the past four years to improve the financial health of the club.

That means that the signing should arrive in the course of next week while for the full closing it will be necessary to wait for the season to be completed so as not to have any distractions from the title challenge.

The source also confirmed the amount of the operation which is equal to €1.18bn and according to the agency, two teams are at work for Investcorp: one dedicated to due diligence and the other to drafting the business plan.

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