Bahrain Mirror: The Bahrain Embassy in the United Kingdom has confirmed Investcorp, based in Bahrain, opened talks to buy the Italian AC Milan, currently owned by Elliott Management, for $1.1 billion.
The Embassy said via its Twitter account "Bahrain based asset manager Investcorp has entered in exclusive talks to buy Italian Serie A club AC Milan for $1.1 billion. Investcorp was founded in 1982, offers a diverse and truly global investment portfolio and manages over $42 billion in assets across the globe."
According to the Bahraini Embassy in the UK, Investcorp's offer amounts to $1.1 billion. Four years ago the Americans of Elliott Management Corporation bought AC Milan for 760 million euros.
After a number of television channels and interested newspapers posted the Embassy's statement on their websites, the Embassy deleted the tweet in an incomprehensible manner, and the Embassy did not issue any further explanation.
Investcorp identifies itself on its website as "a leading provider and manager of alternative investment products'', which enables families in the Middle East to invest their wealth in alternative investment opportunities. Investcrop manages over $42 billion in assets across the globe.