Oaktree take control of Inter Milan after Suning default in €395m debt
May 23 – US-based fund Oaktree Capital Management has formally issued a statement that it has taken ownership of the Serie A champions Internazionale after Suning Holdings Group, led by Steven Zhang, defaulted on a €395 million loan taken out three years ago.
Suning acquired a 68.7% stake in Inter in 2016 and, to support the club after the pandemic, in 2021 borrowed €275 million from Oaktree at 12% interest.
In a statement Oaktree said: “In May 2021,
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