November 13, 2017 / 12:43 PM / a year ago

AC Milan in exclusive talks for debt refinancing - shareholders

FILE PHOTO: The AC Milan logo is pictured on a pennant in a soccer store in downtown Milan, Italy April 29, 2015. REUTERS/Stefano Rellandini/File Photo

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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