Elliott Ushers in New Chapter at AC Milan
Ownership and control of the holding company that owns AC Milan has today been transferred to funds advised by Elliott Advisors (UK) Limited (“Elliott”). This transfer has occurred as a result of steps taken to enforce Elliott’s security interests after the previous owner of AC Milan defaulted on its debt obligations to Elliott.
Having assumed control, Elliott’s vision for AC Milan is straightforward: to create financial stability and establish sound management; to achieve long-term success for AC Milan by focusing on the fundamentals and ensuring that the club is well-capitalized; and to run a sustainable operating model that respects UEFA Financial Fair Play regulations.
Elliott fully appreciates the challenge and responsibility that ownership of this great institution entails. Elliott is pleased not only to support the club during this difficult time, but also by the challenge of achieving ambitious objectives in the future via the on-field success of coach Gattuso and his players.
As first measures, Elliott intends to inject €50 million of equity capital to stabilize the club’s finances, and plans to inject further capital over time to continue to fund AC Milan’s transformation.
Paul Singer, Founder, Co-CEO and Co-CIO of Elliott Management Corporation said, “Financial support, stability, and proper oversight are necessary prerequisites for on-field success and a world-class fan experience. Elliott looks forward to the challenge of realising the club’s potential and returning the club to the pantheon of top European football clubs where it rightly belongs. Elliott also strongly believes in the value-creation opportunity at AC Milan.”
Elliott Management Corporation manages two multi-strategy funds which combined have approximately $35 billion of assets under management. Its flagship fund, Elliott Associates, L.P., was founded in 1977, making it one of the oldest funds of its kind under continuous management. The Elliott funds’ investors include pension plans, sovereign wealth funds, endowments, foundations, funds-of-funds, and employees of the firm. Elliott Advisors (UK) Limited is an affiliate of Elliott Management Corporation.
Om Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Følg saker fra Business Wire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Business Wire
Age Matters: PMI Calls All Tobacco and E-Cigarette Companies To Do Their Part to Guard Against Youth Nicotine Use23.4.2019 17:29:00 CEST | Pressemelding
Philip Morris International Inc. (PMI) (NYSE: PM) today reaffirmed its vision for the future: To achieve a smoke-free world; that is, one without cigarettes. For the hundreds of millions of men and women globally who will otherwise continue to smoke, PMI’s goal is to switch them to nicotine-containing products that are scientifically substantiated as better choices than continuing to smoke. Our strong belief—if you don’t smoke, don’t start—begins with a continued and robust focus on preventing youth from beginning to smoke or use nicotine products. “Given the rapid pace of innovation in the tobacco products space, we are emphatic that youth should not use any tobacco- or nicotine-containing product. Nicotine is addictive. It is not risk-free, and it poses particular risks for adolescents. We know that great care must be taken to achieve our smoke-free goal. Youth should not become nicotine users. Former smokers and never smokers should not return to, or pick up, the tobacco or nicotine
Personalis, Inc. to Present at European NeoAG Summit 201923.4.2019 15:00:00 CEST | Pressemelding
Personalis, Inc., a leader in advanced genomics for cancer, today announced that the company will present at European NeoAG Summit 2019 in Amsterdam on April 24th at 2:30 PM CEST. The presentation, entitled “ImmunoID NeXT Platform: Improving Neoantigen Prediction, TME Assessment, and ctDNA Detection for Vaccine Development,” will introduce Personalis’ new universal cancer immunogenomics platform, ImmunoID NeXT™. In addition to an overview, the presentation will highlight innovative genomics methods for more comprehensive assessment of neoantigens, which include improving neoantigen-to-MHC binding prediction and ranking and assessing TME/TCR and tumor escape mechanisms that may impact vaccine response. ImmunoID NeXT is the first platform to provide comprehensive analysis of both a tumor and its immune microenvironment from a single sample. The platform can be used to investigate the key tumor- and immune-related areas of cancer biology, consolidating multiple oncology biomarker assays i
Keio Plaza Hotel Tama Opens My Melody, Little Twin Stars Rooms on June 15, 2019 - Sweet Dreams in Our Hello Kitty and Sanrio Character Rooms23.4.2019 14:05:00 CEST | Pressemelding
The Keio Plaza Hotel Co., Ltd., one of Japan’s most prestigious hotel companies operating hotels located in the Shinjuku district of Tokyo and other locations, is proud to announce the strengthening of its collaborative relationship with Sanrio Co., Ltd. (Headquarters: Shinagawa, Tokyo, President and CEO: Shintaro Tsuji) to expand facilities and services featuring “Hello Kitty” and other Sanrio characters at our Keio Plaza Hotel Tama. Our Tama Hotel will renovate a total of four additional rooms, including two rooms each in the themes of “My Melody” and “Little Twin Stars” (Kiki and Lala) who have been adored by fans around the world since their creation in 1975, to be opened on Saturday June 15, 2019, and thereby become the world’s first hotel to operate rooms in these themes on a regular basis. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190423005311/en/ New Sanrio characters rooms, including two rooms each in the theme
Project Management Institute, Inc. (PMI) Delivers Full Suite of Certification Exams in Over 5,000 Locations Through Expanded Testing Agreement with Pearson VUE23.4.2019 14:00:00 CEST | Pressemelding
Project Management Institute, Inc. (PMI), the leading not-for-profit professional membership association for the project management profession, and Pearson VUE, a global leader in the computer-based testing industry, have announced an expanded, multi-year agreement that will offer more testing options for candidates looking to earn PMI certifications at all stages of their career. The new agreement will offer candidates access to even more PMI certification tests as well as more flexibility in their testing location options, thanks to Pearson VUE’s global network of testing centers and online proctoring solutions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190423005149/en/ Beginning July 1, 2019, seven additional PMI programs, including the Project Management Professional (PMP)® – renowned as the global gold standard for project management professionals – will become available to professionals around the globe through Pe
Andersen Global Marks Growth to 50 Countries with Collaborating Firm in Zambia23.4.2019 13:30:00 CEST | Pressemelding
Andersen Global announced it achieved a new milestone today in its continuing growth with the addition of Mulenga Mundashi Kasonde Legal Practitioners (MMKLP). MMKLP, a law firm in Zambia, has signed a Collaboration Agreement with Andersen Global. The international association now has presence in 50 countries through its member and collaborating firms. Led by five partners, MMK has been advising clients in corporate mergers and acquisitions, tax, litigation, and labor and industrial resolutions since 1999. The firm is now one of the largest law firms in Zambia in its twentieth year. The collaborating firm will be the eleventh location in Africa for Andersen Global. “We’ve had the opportunity to advise on some of the highest profile financial events for Zambia in modern history,” said Micheal Mundashi, MMKLP Managing Partner. “One of the things that keeps us moving forward is the desire to provide even more for our local and international clients. Collaborating with Andersen Global will
Aventri Introduces Uber Vouchers to Deliver New Transportation Options23.4.2019 13:00:00 CEST | Pressemelding
Event management software (EMS) leader Aventri today announces a new partnership with Uber for Business. Aventri is the first EMS provider to launch a partnership with Uber for Business to offer customers the opportunity to utilize Uber Vouchers. Uber Vouchers’ web-based tool allows event organizers to provide VIP treatment to attendees with stress-free, reliable transportation to and from events. “We’re always looking for new partners to help our customers streamline events and add value,” said Brad Langley, vice president of channel and partner management for Aventri. “Uber for Business fits the bill. Using Uber Vouchers, organizers spend less time arranging logistics for moving groups, and their guests can come and go at a time that’s convenient for them.” Using Uber Vouchers, organizers can enhance the journey for themselves and their guests. Some benefits include: Customized Control: Organizers can easily create and manage campaigns online by setting parameters for pickup, drop-of