• Contacts
Tuesday, 5 July 2022
  • it Italiano
  • en English
Newsletter
BeBeez
  • .
  • Home
  • RISK CAPITAL
    • Angels & Incubators
    • Equity Crowdfunding
    • Venture Capital
    • Private Equity
    • Club deal
    • Spac
    • Euronext Growth Milan
    • Real Estate
    • Private equity, venture capital and private debt data in the world
    • Private capital in the world
      • Private capital in Europe
      • Private capital in Asia Pacific
      • Private capital in North America
      • Private capital in the rest of the world
    • Real Estate in the world
      • Real estate in Europe
      • Real Estate in Asia Pacific
      • Real Estate in North America
      • Real Estate in the rest of the world
  • CREDIT & DEBT
    • Private Debt
    • Crisis & Relaunch
    • Bad loans and other NPLs
  • ANALYSIS & COLUMNS
    • Insight Views EN
    • Report
    • Beez Peak
    • Comments
    • Data&Analysis
    • Fintech
    • Management
    • Art&Finance
    • GreenBeez
  • TOOLS
    • Sectors & Companies
    • Events
    • BeBeez Academy
  • BEBEEZ PREMIUM
    • BeBeez Private Data
    • BeBeez News Premium
    • Pricing
    • Subscriber Access
  • Login
Abbonati
  • Home
  • RISK CAPITAL
    • Angels & Incubators
    • Equity Crowdfunding
    • Venture Capital
    • Private Equity
    • Club deal
    • Spac
    • Euronext Growth Milan
    • Real Estate
    • Private equity, venture capital and private debt data in the world
    • Private capital in the world
      • Private capital in Europe
      • Private capital in Asia Pacific
      • Private capital in North America
      • Private capital in the rest of the world
    • Real Estate in the world
      • Real estate in Europe
      • Real Estate in Asia Pacific
      • Real Estate in North America
      • Real Estate in the rest of the world
  • CREDIT & DEBT
    • Private Debt
    • Crisis & Relaunch
    • Bad loans and other NPLs
  • ANALYSIS & COLUMNS
    • Insight Views EN
    • Report
    • Beez Peak
    • Comments
    • Data&Analysis
    • Fintech
    • Management
    • Art&Finance
    • GreenBeez
  • TOOLS
    • Sectors & Companies
    • Events
    • BeBeez Academy
  • BEBEEZ PREMIUM
    • BeBeez Private Data
    • BeBeez News Premium
    • Pricing
    • Subscriber Access
  • Login
Abbonati
BeBeez
Home Private Equity

BC Partners valuing FC Inter less than 900-950 mln euros. Suning looks for other investors. Here are alle the names in the game

Valentina MagribyValentina Magri
2 February 2021
in Companies, Private Debt, Private Equity
A A
Share on FacebookShare on Twitter
Steven Zhang

Things get complicated in the negotiation between BC Partners and the Chinese group Suning, the main shareholder of Milan’s based iconic soccer team FC Inter. The offer of the fund, which is said to value the team less than the 900-950 million euros requested by Suning, was in fact judged too low, so the games have now reopened, with the possibility for other investors to come back in the game. The Zhang family, at the head of the Suning group, reported yesterday in conference call to the two CEOs of the club, Alessandro Antonello and Beppe Marotta, of the decision to decline the advances of BC Partners. However, the private equity firm has not yet submitted a formal offer and is still willing to do so by the end of the week.

We recall that BC Partners has hired the team of the British sports crowdfunding platform Tifosy as advisor in the negotiations with Suning, namely Gianluca Vialli (legend of Juventus, Sampdoria and Chelsea soccer teams) and Fausto Zanetton (specialist in the media, tech and sport sectors in Goldman Sachs and Morgan Stanley), together with Marco Re, former financial director of Juve and today head of the Italian branch of Tifosy (see here a previous article by BeBeez).

As it is known, Inter is looking for fresh capital to support the working capital and in perspective to refinance the 375 million euro bond maturing at the end of 2022 and for this reason Suning has given Goldman Sachs a mandate to probe the market (see here a previous article by BeBeez). BC Partners had enteres in exclusive talks with Suning which have now expired, while the Swedish fund EQT, the American Arctos Sports Partners and Ares Management Corporation and the Singapore sovereign fund, Temasek Holdings, are on the waiting list. And in the last few hours there are also rumors about a strong interest by Fortress. The latter, however, is an investor specialized in debt and therefore could be the best candidate to support in the deal a private equity or a sovereign fund such as Mubadala, which is one of the sovereign funds of Abu Dhabi, which currently has 232 billion dollars of assets under management and in Italy owns a stake in Unicredit and controls Piaggio Aeropsace.

Fortress Investment Group, an American company controlled by Softbank, has often appeared on the occasion of large debt transactions in Italy, including ones regarding distressed assets. For example, on the latter front, in January 2020 he made an offer for the Maccaferri Group (see here a previous article by BeBeez) and already from the end of 2019 and the beginning of 2020 he is one of the funds that is studying the Montepaschi dossier (see here a previous article by BeBeez). Also Fortress had provided 75 million euros of bridge finance to Astaldi, subscribing with King Street a supersenior bond maturing in February 2022 which was listed on the Third Market of the Vienna Stock Exchange (see here a previous article by BeBeez). That bond was then sold entirely to Salini Impregilo in October 2019, while at the end of November it was approved to increase it up to a maximum of 190 million. Also Fortress had been one of the names that emerged as potential investors in a debt operation on Lega Calcio Serie A as an alternative to the deal studied in terms of equity by the CVC-Advent-FSI consortium (see here a previous article by BeBeez). In Italy, Fortress also owns 100% of the real estate fund management company Torre sgr. In fact, last July 2020, Fortezza RE, controlled by Fortress and already owner of 62.5% of the capital of Torre sgr, rose to 100% after taking over its 37.5% stake from Unicredit (see here a previous article by BeBeez).

Returning to Inter, we recall that last August 2020 Inter Media and Communication spa, the sole director and manager of the media, broadcasting and sponsorship sectors of FC Inter, placed bonds for 75 million euros which were listed on the Luxembourg Stock (see here a previous article by BeBeez) and which have characteristics identical to those of the bond placed for 300 million in December 2017 (see here a previous article by BeBeez).

All this, in fact, while Inter’s accounts are suffering. Already at the end of October, the Board of Directors, chaired by Steven Zhang, had approved the financial statements as at 30 June 2020, with a loss that had been “only” about 100 million thanks to the capital gain collected for the sale of champion player Mauro Emanuel Icardi (see here a previous article by BeBeez). And in fact then the shareholders meeting at the end of November had filed 2019/2020 financial statements which showed a decrease in revenues of about 45 million euros, with the consolidated figure that stood at 372.4 million, with an ebitda of 14, 5 millions and an operating loss of 102.4 millions (see the press release here).

Lion Rock Capital, based in Hong Kong, had acquired its 31.05% of FC Inter from Indonesian Erick Thoir in January 2019 for 150 million euros, through International Sports Capital spa (see here a previous article by BeBeez). Founded in 2011 by Daniel Kar Keung Tseung, a Sino-American businessman, trained in the US at Princeton and Harvard, the fund invests mainly in the sports, e-commerce, food and medical sectors and in its portfolio it also has a significant stake in Suning Sports, in turn controlled by the Chinese electronic retail giant Suning group of the Zhang family, which had bought 68.55% of Inter Milan in 2016 for 270 million euros (the remaining 0.4% of the capital belongs to other minor shareholders).

Tags: BC partnersFC InterInterItaliaItalyprivate equityprivate equitySuning
Sector news and cards : Media & Entertainment

Iscriviti alle nostre Newsletter

Iscriviti alle newsletter di BeBeez

Iscriviti
Previous Post

Italy’s private equity weekly roundup. News from Neuberger Berman, BC Partners, Lega Serie A, Mps, Erg, Sergio Rossi, BIP, CFT and more

Next Post

Italy’s angels&incubators, venture capital and fintech weekly roundp. News from Enthera, ReiThera, Cdp venture, Digital Magics, MyMenu, Crif and more

Related Posts

Events

BeBeez waits for you next Wed July 6th at a webinar by Equita and Morri Rossetti to talk about MBOs in Italy versus France and Germany. BeBeez is unique media partner

1 July 2022
Investindustrial in talks to buy NYSE-listed Treehouse’s meal preparation division
Private Equity

Investindustrial in talks to buy NYSE-listed Treehouse’s meal preparation division

28 June 2022
PLT Energia, final steps for the auction for the wind and solar Italian operato. FIEE funds towards exit
GreenBeez

PLT Energia, final steps for the auction for the wind and solar Italian operato. FIEE funds towards exit

27 June 2022
Sweden’s private equity firm EQT to buy control of Facile.it
Private Equity

Italy’s private equity weekly roundp. News from IFM Investor, Industrie De Nora, Generalfinance, Be Shaping the Future, Biomet and more

24 June 2022
Unicredit stock jumps by 6% on rumors of a 14 bn euros GBV NPEs sale to AMCO smoothing a merger with Montepaschi
Private Debt

Italy’s private debt, distressed assets and NPLs weekly roundup. News from Unicredit, Sagitta, Europa Investimenti, BCM Global, Moby, Enertronica Santerno, Oxy Capital, ITway, Mercatoria, Rummo, Davis&Morgan, Credimi, Syrma Capital and more

23 June 2022
Italy’s private equity weekly roundup. News from Limacorporate, M4, Cogne Acciai, EDIGard, Guber Banca, EOS, Hyle Capital, Paluani and more
Private Equity

Italy’s private equity weekly roundup. News from Limacorporate, M4, Cogne Acciai, EDIGard, Guber Banca, EOS, Hyle Capital, Paluani and more

17 June 2022
  • Report
  • Events
  • Proposals

Report

Private debt hits a record in Italy in 2021 with volume over 26 mld euro, twice the figure in 2020. The new Report by BeBeez. See here all the tables

Private debt hits a record in Italy in 2021 with volume over 26 mld euro, twice the figure in 2020. The new Report by BeBeez. See here all the tables

14 March 2022
Financing to Italy’s SMEs and startups from fintech platforms reached a total of 8.6 bn euro since the market started in 2014. More than 3.5 bn euro in 2021 only. Here is the new BeBeez’s report

Financing to Italy’s SMEs and startups from fintech platforms reached a total of 8.6 bn euro since the market started in 2014. More than 3.5 bn euro in 2021 only. Here is the new BeBeez’s report

7 March 2022
In 2021 as many as 40 private equity deals in Italy with EV of at least 500 mln euro. All tables in the BeBeez Report 2021

In 2021 as many as 40 private equity deals in Italy with EV of at least 500 mln euro. All tables in the BeBeez Report 2021

7 February 2022
Fintech, startups and scaleups of Italian matrix raised over 900 mln euro in 2021 from 247 mln in 2020. BeBeez Report

Fintech, startups and scaleups of Italian matrix raised over 900 mln euro in 2021 from 247 mln in 2020. BeBeez Report

2 February 2022

Events

BeBeez waits for you next Wed July 6th at a webinar by Equita and Morri Rossetti to talk about MBOs in Italy versus France and Germany. BeBeez is unique media partner

1 July 2022
Waiting for you next June 8th at a webinar by Assofintech about Cybersecurity, a dialogue between Italy and Israel.  BeBeez is media partner

Waiting for you next June 8th at a webinar by Assofintech about Cybersecurity, a dialogue between Italy and Israel. BeBeez is media partner

2 June 2022
Happy Republic of Italy day! BeBeez comes back next Friday June 3rd

Happy Republic of Italy day! BeBeez comes back next Friday June 3rd

2 June 2022
Happy April 25th!

Happy April 25th!

24 April 2022

Proposals

No Content Available

Co-sponsors

Partners

Tag

Banca Ifis Banco Bpm BeBeez Magazine bilanci bilancio blockchain bond Cdp Equity Coronavirus COVID-19 deteriorati Elite Gacs governo Hines hotel Illimity Italia Italy Italy Kryalos Lbo index L Catterton Leanus logistica magazine NB Aurora nexi NPE npl npl Pir private capital private debt private debt private equity private equity quotazione real estate Roma Round scaleup Utp venture capital venture capital
This site generates cookies, all of which are necessary for it to work properly. Here is our cookie policy page.

Necessary cookies

Cookie Google Analytics

Cookie tecnici

List of cookies - Privacy policy - Cookie policy
x
Cookies?
Bebeez

EdiBeez srl

C.so Italia 22 - 20122 - Milano
C.F. | P.IVA 09375120962
Aut. Trib. Milano n. 102
del 3 aprile 2013

Follow

Risk Capital

  • Angels & Incubators
  • Venture Capital
  • Private Equity
  • Club deal
  • Spac
  • Euronext Growth Milan
  • Real Estate
  • Private equity, venture capital and private debt data in the world
  • Private capital in the world
  • Real Estate in the world

Credit & Debt

  • Private Debt
  • Crisis & Relaunch
  • Bad loans and other NPLs

Analysis & Columns

  • Insight Views EN
  • Report
  • Beez Peak
  • Comments
  • Data & Analysis
  • Fintech
  • Management
  • Art&Finance
  • GreenBeez

Tools

  • Sectors & Companies
  • Events
  • BeBeez Academy

Who we are

  • Who we are
  • What people say about us
  • Contacts

Personal data management

  • Login BeBeez News Premium
  • Subscribe

Information on the site

  • Privacy Policy
  • Terms and conditions of use
  • Cookie Police
  • Site Map

Powered by Olomedia © 2021

  • it Italiano
  • en English
  • Risk Capital
    • Angels&Incubators
    • Equity Crowdfunding
    • Venture Capital
    • Private Equity
    • Club deal
    • Spac
    • Euronext Growth Milan
    • Real Estate
    • Private equity, venture capital and private debt data in the world
    • Private capital in the world
      • Private capital in Europe
      • Private capital in Asia Pacific
      • Private capital in North America
      • Private capital in the rest of the world
    • Real Estate in the world
      • Real estate in Europe
      • Real Estate in Asia Pacific
      • Real Estate in North America
      • Real Estate in the rest of the world
  • Credit & Debt
    • Private Debt
    • Crisis & Relaunch
    • Bad loans and other NPLs
  • Analysis & Columns
    • Insight Views EN
    • Report
    • Beez Peak
    • Comments
    • Data&Analysis
    • Fintech
    • Management
    • Art&Finance
    • GreenBeez
  • Tools
    • Sectors & Companies
    • Events
    • BeBeez Academy
  • Bebeez Premium
    • BeBeez Private Data
    • BeBeez News Premium
    • Pricing
    • Subscriber Access
  • My Account
  • Subscribe

Powered by Olomedia © 2021

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Search...