Due diligence is underway on a possible takeover of Inter Milan by a Middle Eastern fund – but Suning are still hoping to refinance the loan from Oaktree.
This according to today’s print edition of Turin-based newspaper Tuttosport, via FCInterNews.
In recent days, reports have suggested that there is fresh interest in a possible purchase of Inter.
The name of InvestCorp has once again come up.
And yesterday, the Bahrain-based fund responded to the rumours linking them with a takeover of the Nerazzurri. They stated that they “can neither confirm nor deny” interest.
Meanwhile, Emirati fund Mubadala is another possible candidate.
Tuttosport name the two Middle Eastern funds as the likely subject of the reports of serious interest in buying Inter.
And according to the newspaper, the interest is already meaningfully progressing.
The potential offer, they report, will be in the region of €1.3 billion.
Middle Eastern Fund Could Make Big Offer For Inter Milan – But Suning Could Still Hold Out
From the perspective of investment bank Raine Group, who have been facilitating the search for buyers, that is certainly a sufficient offer.
And it would theoretically meet Inter owners Suning’s demands.
Still, Tuttosport report, the owners have not given up on the possibility of refinancing their loan from Oaktree Capital. Doing so would be a necessary condition for them to stay at the helm and could allow them to stave off a sale.
According to Tuttosport, the liabilities that Inter’s board most recently reported total around €80 million. This is down from €140 million during the previous set of accounts.
Therefore, Suning still believe that there could be conditions for them to remain in control of the Nerazzurri. As such, they could still reject an offer from a Middle Eastern fund, even one which theoretically reaches their valuation and is deemed sufficient by Raine Group.