A Fininvest delegation is reportedly set to fly to Shenzhen, China, to finalize Bee Taechaubol’s Milan investment.
The Thai property tycoon, commonly known as Mr Bee, has agreed a deal to acquire 48% of the Rossoneri, with an investment of almost €500m.
The deal, initially agreed with President Silvio Berlusconi, was supposed to be completed by September 30, but was delayed until the end of November.
A further setback put the deal back to just after Christmas. Reports later emerged that Taechaubol was struggling to raise the necessary capital.
Now Marco Bellinazzo of Sole 24 Ore, an Italian business publication, is reporting that a delegation from Fininvest, the holding company of AC Milan founded by Berlusconi, will fly to Shenzhen tomorrow. The aim is to close the deal within two weeks, with the possibility of new investors coming in to help Mr Bee raise the money.
Chinese company Alibaba, which recently invested in Guangzhou Evergrande, is one potential source of capital, along with Huawei, an existing commercial partner of the Diavolo.
Proofread by John Devlin