Inter sale: Fortress and Suning in advanced talks

According to Il Sole 24 Ore, private equity fund Fortress are pushing to acquire a minority stake in Inter and want to close the agreement by the end of the month.

The American fund have been in talks with Suning since February and according to Il Sole 24, they are now willing to wrap up a deal by the end of the month.

The economic paper confirms Fortress put €250m on the table, which would allow them to take a minority share in the club with the Zhang family keeping a majority stake.

Fortress offered preferred equity financing and would pay €150m immediately and €100m later on.

Suning’s senior investment manager Simon Yang is carrying out talks.

Fortress do not have an exclusivity period which means Suning can negotiate with other parties interested in acquiring Inter.