Further details emerge regarding the sale del Milan da Elliott a Red Bird. After that first Truth & Business had talked about the 600 million loaned by Singer with a 15% interest rate, instead, you need to register the version that reports Football and Finance, went out in the afternoon with a special on the Elliott-RedBird deal in between vendor loan and resale, after the signing of the final agreement e the so-called signing which provides for the definitive passage to Gerry’s group Cardinal over the summer, with the closing expected by September and an evaluation of Milan in the transaction equal to 1.2 billion.
THE DETAILS OF THE HAND TRANSFER – According to what has been learned from Football and Finance from financial sources, Cardinale’s US company will not receive funding from banks to complete the acquisition (jpMorgan, with Bank of America Merrill Lynch, acted only as Elliott’s advisor for the transaction). There will be instead and vendor loan, i.e. a loan granted by the seller, or the fund led by Paul Singer. towards the buyer, or RedBird: a not uncommon practice in the world of finance in the operations of company acquisitions, with the funding which should be around between 200 and 300 million euros. A form of deferred payment, delayed paymentgranted by Elliott regarding a portion of the agreed amount for the purchase of the club.
THE INTEREST RATE – According to what has been learned, the interest rate at which this vendor loan will be granted should be approximately 6/7%, in full market dynamics, such as in the case of Inter, whose bond is now trading at a rate of around 9%. Within the operation is also provided a sort of prize for the Elliott fund (less than 6%) in the event that RedBird were to resell AC Milan at a higher price than what the club was paid today.–
