Singapore Businessman Makes $412M Offer To Acquire 51% Stake In Serie A Side AC Milan
Serie A side AC Milan "is on sale," according to Joaquín Maroto of AS. The club "denied this information weeks ago," but AC Milan co-CEO Barbara Berlusconi "has finally admitted that the club is seeking a partner to acquire 30% of the club." The "first to answer this call is Singapore businessman Peter Lim," who has offered €300M ($412.3M) to acquire a 51% stake in the club. Rumors AC Milan would be sold "began after the club's elimination from the Champions League." The price for 100% of AC Milan's shares is €950M ($1.3B) and the quantity offered by Lim would "cover the 30%" that Silvio Berlusconi, 78, is asking for. Lim, however, is "not happy with that, he wants the majority of the shares," at least 51%. Negotiations "will continue and it is possible that there will be an economic agreement, but there will remain a second part to resolve." AC Milan CEO Adriano Galliani "wants to stay at the club in his role." And "it is not that easy." Lim "is also bidding to acquire Valencia." He would "lose his interest in the Spanish club if he completes the deal for Milan" (AS, 4/7). The AFP reported Barbara Berlusconi said that the report was "baseless." She said, "In any case, the figures which appeared today are totally out of line with the value of the club. €300 million represents approximately 30 percent of AC Milan, certainly not 51 percent. As I've already said, we're not interested in selling a 51 percent stake, only a 20-30 percent share to help us get our stadium project up and running" (AFP, 4/7).