Suning Would Rather Secure Loan Than Sell Inter, Italian Media Claim

Suning Would Rather Secure Loan Than Sell Inter, Italian Media Claim
March 12, 2021 17:00
( )

Suning would rather maintain control of Inter with a loan than sell the club, according to an Italian media report today.

As per Il Sole 24 Ore‘s online edition, while negotiations with American investment fund Fortress over the potential sale of shares in the Nerazzurri are proceeding, the Suning-owning Zhang family would in fact prefer to obtain a loan.

Fortress have made an offer which would provide financing via ‘preferred equity’ for about €250 million, of which €150 million would arrive immediately and another €100 million later on.

The goal is to bring in fresh capital to support the working capital and to also refinance the club’s €375 million bonds, which are due to mature at the end of next year.

Suning have given a mandate to advisors Goldman Sachs to look around and survey the market for interested parties.

The Public Investment Fund of Saudi Arabia (PIF) and British private equity fund BC Partners have both also been linked with potential investment in Inter.

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By Cammy Anderson
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