November 13, 2017 / 12:43 PM / 9 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.

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

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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