There isn’t just PIMCO, as a Saudi consortium is also in the due diligence phase towards potentially buying Inter Milan from Suning.
This according to today’s print edition of Italian business newspaper Il Sole 24 Ore, via FCInterNews.
Recent reports indicate that Inter owners Suning are very close to securing a massive loan that will allow them to refinance their debt and stay in control of the Nerazzurri.
Suning are reportedly nearing the end of talks with US fund PIMCO.
These would be on a three-year loan of over €400 million. This would allow the Inter owners to pay back their debt to Oaktree Capital before next month’s deadline.
As such, Suning could stay in charge at Inter.
The interest rate on this new loan would not be much higher than the 12% on the one from Oaktree.
But that’s not the only news regarding Inter’s ownership situation, reports Il Sole 24 Ore.
Not Just PIMCO – Saudi Consortium Also In Due Diligence Phase For Inter
According to Il Sole 24 Ore, the intention of the loan from PIMCO would just be to buy Suning some more time to ultimately sell Inter.
A sale of the Nerazzurri will still likely be on the horizon, the newspaper reports.
And there is one potential buyer who are taking concrete steps, Il Sole 24 Ore anticipate.
This would be a consortium from Saudi Arabia.
That is distinct from the kingdom’s sovereign wealth fund the Public Investment Fund. The PIF are current owners of Newcastle United.
The PIF would have no involvement in a potential Inter takeover.
However, there is a consortium from Saudi Arabia, funded by private investment.
And according to Il Sole 24 Ore, representatives of that consortium are already at the phase of studying Inter’s financial accounts.
They are serious about the possibility of a takeover, and already at the due diligence phase.
