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

Indulge in the legendary taste of rice dumpling in original Hong Kong style at Hong Kong Fisherman

Hong Kong Fisherman, a Hong Kong-style Chinese restaurant that has been open for more than 16 years, presents the legendary deliciousness of "rice dumpling" to celebrate the Dragon Boat festival, an important festival of Chinese people for enhancing the...

Photo Release: Education Support

Mr. Jirote Na Nakorn, Managing Director of SGS (Thailand) Co., Ltd., a leading inspection, verification, testing and certification company, recently presented 93 education funds, worth 421,000 baht for company staff's children at the SGS Head Office. The...

มกอช. ร่วมประชุม The Netherlands Thailand Roundtable Meeting 2019

ดร.จูอะดี พงศ์มณีรัตน์ เลขาธิการสำนักงานมาตรฐานสินค้าเกษตรและอาหารแห่งชาติ (มกอช.) ร่วมประชุม "Future Challenge of Sustainable Livestock Value Chain in Global Context; The Netherlands – Thailand Roundtable Meeting 2019"...

PEACH Receives Prestigious Thailand Mice Venue Standard Recognition

Pattaya Exhibition And Convention Hall (PEACH) was recently awarded the prestigious MICE Venue Standard Certificate issued by the Thailand Convention and Exhibition Bureau (TCEB). Situated in an unbeatable location with cutting edge meeting facilities,...

Boots Launches The Biggest Sale of The Year, The Incredible SALE With a Variety of Items on Sale to Supercharge and Excite Shopaholics with Cant Miss Mega Discounts

Boots Thailand, a leading international pharmacy-led health and beauty retailer, is launching their massive special sale campaign of the year – "The Incredible SALE Incredible SALE" – the very first time that Boots is offering a mega sales...

Related Topics