China Retail giant Suning.com Subsidiary Nanjing Suningjia E-Commerce Received $66 Million from China State-Owned China Citic Financial Asset Management Pledged by 3 Suning.com Subsidiaries, China Citic Financial Asset Management was Restructured from Collapsed China Huarong after Bailout by Citic Group, Chinese Owners Suning Group Zhang Family Italy Football Club Inter Milan was Taken by Oaktree Capital in 2024 May for Failing to Repay 3-Year Loan Matured on 21st May 2024 with Balance of €395 Million
7th June 2024 | Hong Kong
China retail giant Suning.com subsidiary Nanjing Suningjia E-Commerce has received $66 million (CNY 480 million) from China state-owned China Citic Financial Asset Management, with the $66 million pledged by 3 Suning.com subsidiaries. China Citic Financial Asset Management was restructured from collapsed China Huarong (2021) after a bailout by Citic Group. In 2024 May, United States alternative investment manager with $192 billion AUM ( Assets under Management) Oaktree Capital took control of Italy football club Inter Milan after the Chinese owners Suning Group Zhang family had failed to repay the 3-year loan matured on 21st May 2024 with balance of €395 million ($428 million). In 2021 May, Oaktree Capital had provided the rescue financing to Inter Milan. In 2022, Italy top football club Inter Milan (Football Club Internazionale Milano) Chinese owners (Zhang Jindong & family, Suning Holdings) was looking to sell the football club for $1 billion, having acquired majority stake in the club in 2016 for $306 million (pledging $750 million to invest in the club) & winning the Italy Serie A championship in the 2020/2021 season. The Chinese owners Zhang family had been reported to engage United States investment bank Raine Group & Goldman Sachs to find a buyer. Raine Group had also acted in the sale of Chelsea ($5.4 billion) earlier in June 2022. Suning.com Co., Ltd., formerly Suning Commerce Group Co., Ltd., is one of the largest non-government retailers in China, headquartered in Nanjing, Jiangsu. Suning has more than 10,000 stores nationwide and its e-commerce platform.
“ China Retail giant Suning.com Subsidiary Nanjing Suningjia E-Commerce Received $66 Million from China State-Owned China Citic Financial Asset Management Pledged by 3 Suning.com Subsidiaries, China Citic Financial Asset Management was Restructured from Collapsed China Huarong after Bailout by Citic Group, Chinese Owners Suning Group Zhang Family Italy Football Club Inter Milan was Taken by Oaktree Capital in 2024 May for Failing to Repay 3-Year Loan Matured on 21st May 2024 with Balance of €395 Million “
$192 Billion United States Alternative Investment Manager Oaktree Capital Takes Control of Italy Football Club Inter Milan after Chinese Owners Suning Group Zhang Family Failed to Repay 3-Year Loan Matured on 21st May 2024 with Balance of €395 Million, Oaktree Capital Provided Rescue Financing to Inter Milan in 2021 May, Suning Group Zhang Family was Reported to be Selling Inter Milan Football Club in 2022 for $1 Billion, Acquired in 2016 for $263 Million
23rd May 2024 – United States alternative investment manager with $192 billion AUM ( Assets under Management) Oaktree Capital has taken control of Italy football club Inter Milan after the Chinese owners Suning Group Zhang family had failed to repay the 3-year loan matured on 21st May 2024 with balance of €395 million ($428 million). In 2021 May, Oaktree Capital had provided the rescue financing to Inter Milan. In 2022, Italy top football club Inter Milan (Football Club Internazionale Milano) Chinese owners (Zhang Jindong & family, Suning Holdings) was looking to sell the football club for $1 billion, having acquired majority stake in the club in 2016 for $306 million (pledging $750 million to invest in the club) & winning the Italy Serie A championship in the 2020/2021 season. The chinese owners Zhang family had been reported to engage United States investment bank Raine Group & Goldman Sachs to find a buyer. Raine Group had also acted in the sale of Chelsea ($5.4 billion) earlier in June 2022. In the same month in June 2022, Redbird Capital, founded by former Goldman Sachs banker Gerry Cardinale, bought Italy football club AC Milan for $1.29 billion (EUR 1.2 billion) from Elliott Management. Redbird Capital has also recently acquired a 10% stake in Fenway Sports Group, which also owns Liverpool football club and baseball club Boston Red Sox. AC Milan is the newly crowned Champions of Serie A (2022), and is one of Italy’s most popular football club alongside Juventus and Inter Milan.
Oaktree Capital (22/5/24): “As of 22 May 2024, funds managed by Oaktree Capital Management, L.P. (“Oaktree”) have assumed ownership of FC Internazionale Milano (“Inter Milan” or the “Club”). This follows the non-repayment of Oaktree’s three-year loan to Inter Milan’s holding companies that matured on 21 May 2024 with a total balance due of approximately €395m. In May 2021, with Inter Milan forecasting record financial losses during the 20/21 season, Oaktree provided its holding companies with rescue capital to stabilize the Club’s financial situation and enable it to continue operating, including to pay its players and employees. In the three years since Oaktree’s rescue financing, Inter has lifted its eighth and ninth Coppa Italia, secured its sixth, seventh, and eighth Supercoppa, earned its 20th Scudetto title and historic second star, and reached the UEFA Champions League final for the first time since 2010. Oaktree is dedicated to achieving the best outcome for the long-term prosperity of Inter Milan, with an initial focus on operational and financial stability for the Club and its stakeholders. Oaktree values the legacy of the Club, the passion of the players, the loyalty of the Interisti, and the Club’s significant role in Milan, Italy and the global sporting community. Oaktree is committed to working closely with Inter Milan’s current management team, partners, the league and governing bodies to ensure the Club is positioned for success on and off the pitch; focusing on robust management, operations and governance with a vision for sustainable growth and success. Oaktree and Inter Milan’s management team will communicate with key stakeholders in the coming weeks to ensure there is a smooth transition.
Alejandro Cano, Managing Director and Co-Head of Europe for Oaktree’s Global Opportunities strategy: “As new owners, we recognize our responsibility to Inter Milan’s community, history and legacy. We are committed to the long-term success of the Nerazzurri and believe our ambitions for the Club are united with those of its passionate fans in Italy and around the world. Our initial focus is operational and financial stability. We have great respect for Inter Milan’s management team and look forward to working closely with them to provide strong leadership for the Club. Winning the second star was a pivotal moment for the Club and our aim is to build on the momentum achieved on the pitch to develop a clear path for consistent growth and success.”
About Oaktree – Oaktree is a leader among global investment managers specializing in alternative investments, with $192 billion in assets under management as of March 31, 2024. The firm emphasizes a value-oriented and risk-controlled approach to investments in credit, private equity, real assets and listed equities. The firm has over 1,200 employees and offices in 23 cities worldwide.
Italy Inter Milan Chinese Owners Suning Group Zhang Family to Sell Football Club for $1 Billion, Acquired in 2016 for $263 Million & Won Italy Serie A Championship in 2020/2021 Season
21st October 2022 – Italy top football club Inter Milan (Football Club Internazionale Milano) Chinese owners (Zhang Jindong & family, Suning Holdings) is looking to sell the football club for $1 billion, having acquired majority stake in the club in 2016 for $306 million (pledging $750 million to invest in the club) & winning the Italy Serie A championship in the 2020/2021 season. The chinese owners Zhang family had been reported to engage United States investment bank Raine Group & Goldman Sachs to find a buyer. Raine Group had also acted in the sale of Chelsea ($5.4 billion) earlier in June 2022. In the same month in June 2022, Redbird Capital, founded by former Goldman Sachs banker Gerry Cardinale, bought Italy football club AC Milan for $1.29 billion (EUR 1.2 billion) from Elliott Management. Redbird Capital has also recently acquired a 10% stake in Fenway Sports Group, which also owns Liverpool football club and baseball club Boston Red Sox. AC Milan is the newly crowned Champions of Serie A (2022), and is one of Italy’s most popular football club alongside Juventus and Inter Milan.
Suning Holdings Group, Founder & Billionaire Zhang Jindong with $7.5 Billion Fortune
Chinese owners (Zhang Jindong & family, Suning Holdings) acquired a majority stake in Italy top football club Inter Milan (Football Club Internazionale Milano) in 2016 for $306 million (pledging $750 million to invest in the club) & winning the Italy Serie A championship in the 2020/2021 season.
Suning Holdings Group is one of the largest privately owned company in China. Suning.com is one of the largest non-government retailers in China, and is listed on Shenzhen stock exchange. Suning Holdings Group is founded by billionaire Zhang Jindong (China) and has a personal fortune of around $7.5 billion.
United States Investor & NBA LA Lakers Part-Owner Todd Boehly Buys Chelsea Football Club for $5.4 Billion from Sanctioned Russian Billionaire Roman Abramovich
In June 2022, United States investor Todd Boehly and Clearlake Capital ($72 billion AUM, portfolio includes Cirque du Soleil) have jointly acquired Chelsea Football Club for $5.4 billion (GBP 4.25 billion) from sanctioned Russian billionaire Roman Abramovich, after 20 years of ownership and being forced to sell the football (International pressure due to Russia war in Ukraine). Todd Boehly is also the part-owner of Los Angeles Lakers (NBA club), and has investments in Penske Media which owns Billboard, Rolling Stone, Variety and The Hollywood Reporter. Chelsea football club received more than 250 enquiries with 12 credible bids. Russian billionaire Roman Abramovich had bought Chelsea football club in 2003 (19 years ago) with GBP 140 million. Todd Boehly and Clearlake Capital will have joint control of Chelsea football club.
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