Suning’s loan was guaranteed by stake in Italian clubInter become seventh Serie A club with US owners
The United States-based investment fund Oaktree Capital Management said on Wednesday it has become the new owner of Serie A champions Inter after a missed $428m (£336m) payment from the club’s Chinese holding company, Suning.
Granted in 2021 to the Luxembourg-based vehicle through which the Chinese conglomerate Suning controlled Inter, the loan was guaranteed by the firm’s stake in the club. Under the scheme, Oaktree had the right to take control of the club in the event of a default.
About Author
More Stories
In the red: global wine sales fall to lowest levels since 1961
Uyghur rights group calls on hotel chains not to ‘sanitise’ China abuses in Xinjiang
China accuses UK politicians of ‘arrogance’ in British Steel row