November 13, 2017 / 12:37 PM / a month ago

AC Milan in exclusive talks for debt refinancing - shareholders

MILAN, Nov 13 (Reuters) - Italian soccer team AC Milan is in exclusive talks with a single party for the refinancing of 308 million euros ($359 million) of the club’s debt, two shareholders quoted the group’s chief executive, Marco Fassone, as saying on Monday.

The two minority investors told Reuters the CEO did not say who the counterpart was. The soccer club is majority-owned by a Chinese-led consortium headed by Li Yonghong.

The exclusive negotiations kicked off on Friday and will last eight weeks. ($1 = 0.8579 euros) (Reporting by Elvira Pollina; writing by Giulia Segreti)

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