LaPresse: Milan, Here#s the Money - Refinancing with BGB Weston

General Press Releases Wednesday November 15, 2017 13:22
MILAN--15 Nov--PRNewswire/InfoQuest
  • Money comes to A.C. Milan

BGB Weston, the finance firm, has signed an eight-week agreement to complete the refinancing of the debt the rossoneri team, incurred with US-based hedge fund Elliot Management Corporation. The task of BGB Weston (a firm with extensive experience in the footbal industry, having purchased clubs in Italy and Spain), will be to find a bank or fund available to "cover" Milan for five years, rather than the current three. Responsibility for the task will fall to Lorenzo Gallucci, the leader of the firm, despite the rumors that Antonio Giraudo might be nominated for the job. The former CEO of Juventus - he held the position from 1994 to 2006 - will have no role. "We have been collaborating with him for years in developing and providing financing to the real estate sector," Galluci clarified.

(Photo: http://mma.prnewswire.com/media/603335/AC_Milan_Training.jpg )

Marco Fassone, the Managing Director of A.C. Milan, had other solutions available, however the eight-week agreement with BGB Weston eliminated the possibility of acting on another solution. A London-based financial firm is working out the details of an approach whereby both Milan's debt and that of the holding led by Yonghong Li would be refinanced. "I am confident that we may come to a definite solution even before the eight weeks are over, significantly quicker than with traditional refinancing", emphasized Gallucci, who also highlighted his trust in "the current management" and forecast a positive scenario for the future "because we believe that, with our help, the club will continue to develop, particularly in Asia, where a campaign to bring about significant brand penetration is in progress".

Contacts details: ufficio.stampa@lapresse.it , +39-02-26305578
Source: LaPresse

Latest Press Release

อยากให้ธุรกิจพุ่งทะยาน แต่ยังขาดความคิดสร้างสรรค์จะรอดเหรอ? CCI เชิญร่วมพลิกแพลงความคิดเพื่อสร้างธุรกิจสร้างสรรค์ไปกับ SMEs Springboard: Success through Creative Economy

วิทยาลัยอุตสาหกรรมสร้างสรรค์ (College of Creative Industry - CCI) มหาวิทยาลัยศรีนครินทรวิโรฒ จัดสัมมนาฟรี "SMEs Springboard: Success through Creative Economy"...

Photo Release: Sodexo organizes 8th edition of STOP HUNGER at Ban Nong Krathum School, Ratchaburi Province

Sodexo Thailand, local unit of the France-based global leader in integrated facilities management services that improve the quality of life, recently organized the 8th edition of "STOP HUNGER", an annual CSR event to help the less fortunate fight against...

Thailand MICE posts gains

Thailand MICE continues to record a strong 13% growth in MICE travellers during the first half of the fiscal year 2018, according to the latest report from Thailand Convention and Exhibition Bureau (TCEB). Reporting details of the half-year performance,...

UL Opens First ASEAN Laboratory for Appliances and HVAC in Thailand

UL, a global safety science organization, today officially opened a new laboratory in Samut Prakan, Thailand. The new facility features cutting-edge testing equipment and will serve as UL's regional hub for testing appliances, as well as heating,...

SHANGRI-LA HOTEL, BANGKOKS NEXT2 CAFE OFFERS SURF-AND-TURF SELECTIONS ON FRIDAY NIGHTS

Diners are invited to join Shangri-La Hotel, Bangkok's NEXT2 Cafe on Friday nights, as the restaurant will offer "Surf and Turf" buffet selections, priced at Bt2,200 net per person. Celebrate the last working day of the week with sumptuous international...

Related Topics