It’s reported that US hedge fund Elliott Management will have someone on the Milan board of directors, as they are financing the takeover.
The closing is set for April 14, as Yonghong Li announced the financing was complete with the aid of a huge loan worth €303m from Elliott.
As part of the deal, news agency Ansa and La Repubblica report that Elliott will have a representative on the new board of directors.
However, Milan expert Pasquale Campopiano insists Elliott will only demand the all-clear on one of the six counsellors proposed for the new board.
The new directors should therefore be Lu Bo representing Chinese giants Haixia, Yonghong Li, Han Li, Marco Fassone, Roberto Cappelli and Marco Patuano.