By the end of June 2020, the total amount invested in Inter by the Suning Group was €712 million but following the economic implications of the pandemic new investors are needed, Italian media report today.
This according to today’s print edition of the Italian newspaper La Gazzetta dello Sport when focusing on Inter’s current situation after the strike of the pandemic.
The pandemic that has forced the Chinese company to give Goldman Sachs a mandate to find new investors on the market.
“Negotiations with BC Partners, a private equity giant represented by head of investments in technology, media and telecommunications area Nikos Stathopoulos, have started.
“Inter president Steven Zhang has categorically denied selling the club, instead the intention of Suning (who control a majority shareholder with 68.55%) is to introduce a new minority shareholder alongside LionRock (currently own a 31.05% share). But at this point anything can happen.”
From June 2016 to today, Suning Group has spent a lot of money on its Inter venture. And at this point they have to start thinking about a return on their investment from a hypothetical sale of the club.
Because, event though they’re overestimated they have nonetheless brought some value to the club’s sponsors, the Gazzetta continues.
Sunings net exposure, including shares, capital payments and loans is approximately €550 million. Combined with financial debts of around €375 million, the sum of invested capital and debt is around €950-1000 million, excluding the purchase of the old shares, the newspaper concludes.