Bahrain confirms firm’s talks to buy AC Milan for $1.1B

Apr 18, 2022, 11:16 AM | Updated: 12:08 pm
AC Milan players celebrate at the end of the Serie A soccer match between AC Milan and Genoa, at th...

AC Milan players celebrate at the end of the Serie A soccer match between AC Milan and Genoa, at the San Siro stadium in Milan, Italy, Friday, April 15, 2022. AC Milan won 2-0. (AP Photo/Luca Bruno)

(AP Photo/Luca Bruno)

MILAN (AP) — Bahrain’s government announced that a private equity firm based in the country is in “exclusive talks” to buy seven-time European champion AC Milan and become the Italian league’s first Middle East investor.

Three days after news of the dealings emerged, Bahrain’s embassy to Britain confirmed in a tweet on Monday that Investcorp is in discussions to buy the Serie A leader for $1.1 billion.

The U.S.-based hedge firm Elliott Management has owned Milan since 2018 after the former Chinese owner failed to repay part of a loan. Former Italian premier Silvio Berlusconi controlled Milan for more than 30 years before selling to the Chinese group in 2017.

Neither Elliott nor Milan has discussed the talks with Investcorp, and club director Paolo Maldini said little when asked about it on Friday.

“It’s normal that there could be a sale in the future of Milan,” Maldini said then. “I don’t know when that will be.”

Investcorp, which was founded in Bahrain in 1982, delisted from the Bahrain stock exchange last year after almost four decades as it continues its global expansion of investments.

The embassy tweet said Investcorp “manages over $42 billion in assets across the globe.”

___

More AP soccer: https://apnews.com/hub/Soccer and https://twitter.com/AP_Sports

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

AP

Associated Press

Chinese envoy expresses concern over US tariffs with Yellen

BEIJING (AP) — China’s envoy to trade war talks with Washington expressed concern about U.S. tariffs on Chinese imports during a phone call Tuesday with Treasury Secretary Janet Yellen, the Ministry of Commerce announced, but it gave no indication of progress toward resolving an array of conflicts. Vice Premier Liu He and Yellen also discussed […]
23 hours ago
A woman wearing a face mask walks past a bank's electronic board showing the Hong Kong share index ...
Associated Press

Asia shares rise on optimism about easing COVID restrictions

TOKYO (AP) — Asian shares advanced Monday across the board as buying set in after the lull of a U.S. national holiday. Analysts said the optimism may be driven by expectations the U.S. may decide to cut Chinese tariffs, a welcome move that would also help tame inflation. China’s Commerce Ministry said Tuesday that Vice […]
23 hours ago
A man paddles on a stand-up paddle board through a flooded street at Windsor on the outskirts of Sy...
Associated Press

Australian central bank boosts rate for 3rd month in a row

CANBERRA, Australia (AP) — Australia’s central bank on Tuesday lifted its benchmark interest rate for a third time in three straight months, changing the cash rate to 1.35% from 0.85%. The Reserve Bank of Australia’s half a percentage point rise was the same size as its June increase. When the bank lifted the rate by […]
23 hours ago
A woman wearing a face mask walks past a bank's electronic board showing the Hong Kong share index ...
Associated Press

Asia shares rise on optimism about easing COVID restrictions

TOKYO (AP) — Asian shares advanced Monday across the board as buying set in after the lull of a U.S. national holiday. Analysts said the optimism may be driven by expectations the U.S. may decide to cut Chinese tariffs, a welcome move that would also help tame inflation. China’s Commerce Ministry said Tuesday that Vice […]
23 hours ago
FILE - Former Kansas Secretary of State Kris Kobach speaks in Leavenworth, Kan., on July 8, 2019. K...
Associated Press

Kobach looks for comeback in Kansas after losing 2 big races

TOPEKA, Kan. (AP) — Kansas voters have said no to him twice over the past four years. But Kris Kobach is nonetheless betting that this can be the year he makes a political comeback. His losses, including a 2018 defeat that handed the governor’s office in this Republican-leaning state to a Democrat, might end other […]
23 hours ago
Republican gubernatorial candidate state Sen. Brian Dahle, left, talks with fellow GOP state Sen. A...
Associated Press

Newsom’s opponent: I’m reasonable, not a ‘crazy Republican’

SACRAMENTO, Calif. (AP) — Brian Dahle, the Republican Party’s longshot hope to unseat Gov. Gavin Newsom in California, knows that to win in his progressive home state he can’t allow Democrats to label him as an election denying, abortion-hating, gun-loving, bombastic right-winger. It’s why Dahle, an affable farmer and state senator from the sparsely populated […]
23 hours ago

Sponsored Articles

...
CANVAS ANNUITY

Best retirement savings rates hit 4.30%

Maximize your retirement savings with guaranteed fixed rates up to 4.30%. Did you know there is a financial product that can give you great interest rates as you build your retirement savings and provide you with a paycheck for life once you retire? It might sound too good to be true but it is not; this product is called an annuity.
...
Carla Berg, MHS, Deputy Director, Public Health Services, Arizona Department of Health Services

Update your child’s vaccines before kindergarten

So, your little one starts kindergarten soon. How exciting! You still have a few months before the school year starts, so now’s the time to make sure students-to-be have the vaccines needed to stay safe as they head into a new chapter of life.
...
Carla Berg, MHS, Deputy Director, Public Health Services, Arizona Department of Health Services

ADHS mobile program brings COVID-19 vaccines and boosters to Arizonans

The Arizona Department of Health Services and partner agencies are providing even more widespread availability by making COVID-19 vaccines available in neighborhoods through trusted community partners.
Bahrain confirms firm’s talks to buy AC Milan for $1.1B