Sport

Oaktree to buy Lionrock's stake in Inter Milan in US$336 million financing deal - sources

Oaktree Capital Group is set to buy Lionrock's minority stake in Inter Milan as part of a 275 million euro (US$336 million) financing deal needed to shore up the Serie A club's finances, two sources close to the matter said.

FILE PHOTO: Serie A - Inter Milan v U.S. Sassuolo
FILE PHOTO: Soccer Football - Serie A - Inter Milan v U.S. Sassuolo - San Siro, Milan, Italy - April 7, 2021 General view inside the stadium before the match REUTERS/Daniele Mascolo

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MILAN: Oaktree Capital Group is set to buy Lionrock's minority stake in Inter Milan as part of a 275 million euro (US$336 million) financing deal needed to shore up the Serie A club's finances, two sources close to the matter said.

Chinese retail giant Suning owns 68.5per cent of the top league club, which is suffering due to the fallout from the COVID-19 pandemic, with Lionrock Capital owning the rest.

Oaktree, Lionrock and Suning all declined to comment. (US$1 = 0.8194 euros)

(Reporting by Elisa Anzolin and Elvira Pollina, writing by Maria Pia Quaglia; editing by Valentina Za)

Source: Reuters