November 13, 2017 / 12:43 PM / 2 months ago

AC Milan in exclusive talks for debt refinancing - shareholders

MILAN (Reuters) - Italian football team AC Milan is in exclusive talks with a single party for the refinancing of 308 million euros (£274.2 million) of the club’s debt, two shareholders quoted the group’s chief executive, Marco Fassone, as saying on Monday.

The two minority investors told Reuters the CEO did not say who the counterpart was. The football club is majority-owned by a Chinese-led consortium headed by Li Yonghong.

The exclusive negotiations kicked off on Friday and will last eight weeks.

Reporting by Elvira Pollina; writing by Giulia Segreti

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