Cleary and Jones Day lead way on Inter Milan takeover
Cleary Gottlieb Steen & Hamilton and Jones Day won the leading roles on the takeover of Inter Milan by a consortium of Indonesian investors. A trio of Indonesian businessmen, headed by media entrepreneur and billionaire Erick Thohir, bought a 70% stake in the Italian club in a deal announced yesterday (15 October).
October 16, 2013 at 05:56 AM
2 minute read
Cleary Gottlieb Steen & Hamilton and Jones Day won the leading roles on the takeover of Inter Milan by a consortium of Indonesian investors.
A trio of Indonesian businessmen, headed by media entrepreneur and billionaire Erick Thohir, bought a 70% stake in the Italian club in a deal announced yesterday (15 October).
The other two partners involved are investors Rosan Roeslani, who owns a stake in US franchise DC United alongside Thohir, and Handy Soetedjo.
Inter was advised by a team from Cleary's Milan office, led by corporate partner Roberto Casati, who was flanked by senior attorney Stefano De Dominicis.
International Sports Company, which is indirectly owned by the investors, instructed Jones Day on the deal, with the firm fielding a team including Milan-based partner Marco Lombardi.
A deal value has not been disclosed, but several media reports have suggested it is worth around €350m (£296m).
Italian businessman Massimo Moratti, who had owned Inter for 18 years, said: "I think Inter history is going to be enriched by a new season thanks to our new international partners who, I am sure, will contribute to a continued string of successes. The new partners' enthusiasm and pragmatism are certainly a guarantee for the future."
The club has recently been looking to expand its presence in the Asian markets to raise extra finances. Last year Cleary represented the club with a team led by Casati when a group of Chinese investors bought an estimated 15% shareholding.
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