EQT Source Refuses To Comment Report Regarding Talks With Suning For Inter Shares

EQT Source Refuses To Comment Report Regarding Talks With Suning For Inter Shares
January 14, 2021 23:45
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A source close to Swedish-based private equity fund EQT declined to comment tonight on reports linking the firm with a move to become shareholders at Inter.

Earlier on Thursday, an article in the Financial Times said they were one of three private equity funds in talks with Suning to buy into the Nerazzurri, either for a minority or a majority stake, along with British firm BC Partners and US-based Arctos Sports Partners.

Swedish publication Fotbollskanalen contacted a member of EQT’s communications department but were unable to extract any further information on the matter.

“We don’t have any comments to make on rumors so I can’t help you,” Nina Nornholm told reporters.

“For us this is a rumour and I don’t comment on rumours, so unfortunately I can’t say anything.

“There are lot of talk about various different companies and our policy is to not comment on speculation.

“This is sadly the response I give you.”

The Financial Times report said Suning value Inter in the region of €900 million and have hired Goldman Sachs to advise on potential fundraising options.

There are concerns about liquidity at Suning’s main business back in China, while Inter have posted a loss of €102 million in the last financial year, with finances hit heavily by the COVID-19 pandemic. leading the Chinese retail giants to seek fresh investment into the club, where they hold a 68.5% stake.

It remains unclear whether Hong Kong based LionRock Capital, who own Inter’s remaining shares, are looking to sell their stake as well.

Suning, Inter, LionRock and BC Partners have not responded to request for comment whilst Arctos and Goldman Sachs both declined to comment.

By Will Beckman
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