MANCHESTER (Reuters) -Bahrain-domiciled asset manager Investcorp has entered into exclusive talks to purchase Serie A club AC Milan, sources said on Friday, in what would be the first takeover of a top Italian team by Middle East investors. Investcorp and Elliott, which took over Milan in 2018, would not comment when contacted by Reuters. An AC Milan spokesperson said only that "AC Milan remains focused on improving its performance on the pitch and to develop the club." Saudi Arabia's Public Investment Fund took a majority stake in Premier League club Newcastle United in October. Investcorp Holdings is domiciled in the Kingdom of Bahrain as a Bahrain Shareholding Company but delisted from the Bahrain bourse last year.

Source: The Star April 16, 2022 08:32 UTC