The Italian FA has found there to be nothing improper in the takeover by Oaktree Capital of Inter Milan from Suning.
This according to today’s print edition of Milan-based newspaper Gazzetta dello Sport, via FCInterNews. The newspaper anticipates no sanctions despite rumours of improprieties in the exit of LionRock Capital from Inter’s shareholding structure.
Last week, Oaktree confirmed their takeover of Inter from Suning.
The US-based fund repossessed the outgoing owners’ shares in the club after the latter had failed to repay their debt to the former by the time of the due date.
It was a relatively straightforward process that saw Oaktree enforce their right to take over Suning’s shares.
The agreement on the loan Oaktree made to Suning in 2021 was clear. It stipulated that Suning’s controlling stake in Inter would pass into the hands of Oaktree in the event of a default.
However, Suning had held their shares in the Nerazzurri through a couple different holding companies.
There had been Grand Tower in Luxembourg. And then LionRock Capital in the Cayman Islands.
Italian FA Finds Nothing Improper In Oaktree Takeover Of Inter From Suning
In recent days, there have been some unconfirmed rumours of potential legal issues with Oaktree’s takeover of Inter.
These have specifically concerned the manner in which the shares that Suning had held through LionRock were repossessed by Oaktree.
However, the Gazzetta report, the FIGC (Italian FA) has investigated the matter.
The investigation has not turned up anything that would suggest the takeover violated FA regulations.
Therefore, the Gazzetta reports, there would be no reason to expect any sanctions.
Meanwhile, Inter CEO Beppe Marotta yesterday gave his thoughts on the matter.
The Nerazzurri executive hit out at “jealous” critics, and those who spread “biased” rumours.
The Gazzetta report that Oaktree should complete their takeover of Inter in full compliance with FA regulations.
