Milan’s RedBird takeover now under investigation

Milan’s prosecutor is now investigating RedBird’s takeover of Milan after a complaint by a former minority stakeholder.

La Repubblica have reported that a Luxembourg-based investment group called Blue Skye launched a complaint of embezzlement against RedBird’s takeover and the investigation has been launched by Guardia di Finanza. 

Gdf is carrying out acquisitions of documents in some offices, starting from the complaint of the Luxembourg company Blue Skye by Salvatore Cerchione and Gianluca D’Avanzo. At the moment, it is confirmed in the file that there are no suspects in the case.

Last September, Blue Skye and their parent company Luxembourg Investment Company presented an urgent appeal to the Civil Court of Milan to block the sale of Milan, but then waived off the precautionary request acknowledging that the sale had already been completed in the end of August. 

In the appeal, the Luxembourg companies complained, among other things, that they had never ‘been able to obtain any information on this sale, in which they were directly interested’ and spoke of an ‘opaque’ transaction. And it had been explained by the lawyers that a proceeding was still pending.



Kaustubh Pandey | GIFN

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