Italian prosecutors investigate Milan sale for 1.2 billion euros
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Milan prosecutors are investigating the sale by US-based Elliott of AC Milan for €1.2 billion to US private equity fund RedBird Capital on June 1, 2022.
Confirming earlier reports in the Italian media, Reuters, citing its sources, writes that the Italian tax police are requesting documents from the accountants and consultants involved in the transaction. Clarifying that so far no specific individuals or companies are under investigation.
The prosecution’s investigation, which revolves around the alleged embezzlement, is based on a complaint by Blue Skye Financial Partners, a minority investor who indirectly owns a 4% stake in the Italian club.
Blue Skye has previously accused Elliott of violating its rights in the sale of the seven-time Champions League champions, and has also challenged the deal in courts in Luxembourg and the United States.
Representatives of the US Elliott Foundation have already called Blue Skye’s lawsuits “frivolous and annoying”, stressing that they have no reasonable basis in fact or in law.
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