Jones Day Advises Indonesian Inter Milan Buyers
Jones Day has advised a group of Indonesian businessman on their purchase of a majority stake in Italian soccer club F.C. Internazionale Milano S.p.A, also known as Inter Milan, for as much as $406 million.
Inter Milan, which owned by Italian oil tycoon Massimo Moratti, has signed a binding agreement with a company controlled by Erick Thohir, Rosan Roeslani, and Handy Soetedjo to acquire a 70 percent stake in the club by way of a dedicated capital increase. The terms of deal have not been disclosed but Italian media have estimated the sale price at between $338 million and $406 million.
Thohir is the chairman of Mahaka Media, which controls a number of publishing, broadcasting, and internet properties in Indonesia. He is also co-owner of the Major League Soccer club D.C. United. Soetedjo, president director of PT Midasia Capital, an investment company with interests in commodities, real estate, and media. Roeslani is a former director of Bumi Plc., the Indonesian mining company.
All three have previously invested in international sports franchises. Thohir and Roeslani both own stakes in the Philadelphia 76ers and Thohir and Soetedjo are both investors in Major League Soccer club D.C. United.
Partner Marco Lombardi led a Jones Day team in Milan, while Maria Pedersen was the lead partner in Hong Kong.
Cleary Gottlieb Steen & Hamilton Milan partner Roberto Casati acted for Inter Milan and majority shareholder Internazionale Holding S.r.l., which is controlled by Moratti.