Reuters: Blue Skye drop urgent precautionary appeal over AC Milan sale

By Oliver Fisher -

The news has arrived this afternoon that Blue Skye Financial Partners have rescinded their court appeal over the sale of AC Milan to RedBird Capital.

Calcio e Finanza reported earlier today that Blue Skye had lodged an urgent appeal that will be heard in the Court of Milan as the Luxembourg company asked to block the sale of the club to Gerry Cardinale’s RedBird Capital, something that Elliott Management responded to.

As confirmed by the Reuters and ANSA news agencies (via MilanNews), Blue Skye have dropped their Italian legal efforts to block the sale of the club. Blue Skye Financial Partners have rescinded their appeal and have therefore ceased efforts in Italian court to try to halt the €1.2bn sale.

The Luxembourg company took note, as emerged from the hearing, that the sale had already been completed at the end of August and therefore an appeal of this type is not possible.
A proceeding against Elliott is still pending in Milan, also initiated by Blue Skye, concerning a chapter of the affair, in particular a pledge.

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