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Wednesday the decisive day – Oaktree Capital prepares the announcement of the takeover of Inter Milan by Suning

Oaktree Capital is set to officially announce the takeover of Inter Milan from current owners Suning on Wednesday.

This was reported by the Italian outlet Gazzetta.it. The Gazzetta reports that the US-based fund already has what it takes to make their control of the Nerazzurri official.

At least for the time being, Suning still owns Inter.

The Chinese company still retains control of their majority stake in the Nerazzurri.

But at this stage the clock is ticking.

The Gazzetta notes that Tuesday midnight is essentially the point until Suning Inter will remain owner.

That is the point at which the Nerazzurri owners will have to repay their debt to Oaktree.

Today is actually the deadline for the loan, according to the agreement from spring 2021. However, today is a public holiday in Luxembourg, the location of the holding company through which Suning owns the shares in Inter.

However, if tomorrow passes without Suning fully repaying its debt to Oaktree, the Chinese company will officially default.

Therefore, on paper according to the terms of the agreement, Oaktree can officially begin the process of taking back Suning’s shares in Inter as soon as Wednesday.

What is not yet entirely clear is what that process will look like.

It is reported that the US-based fund has not wanted to actually take over Inter for many months and even years since providing the loan to Suning.

There are rumors that Oaktree could grant Suning a reprieve so that the Chinese company can sell Inter.

There are also reports that an immediate sale could be in the works if Oaktree has already found a buyer.

But according to the Gazzetta, Oaktree will actually take over Inter. They have decided to exercise their right to take back Suning’s shares in the club.

Moreover, the American fund will not wait.

The Gazzetta expects that Oaktree has already prepared a statement. Once they can fulfill the terms of their agreement with Suning, they will publicly announce their intention to take over Inter.

Then, this Wednesday, the Nerazzurri will move into the future with a new owner at the helm.