Suning and Evergrande in talks with Stellar Group

According to a recent Reuters report, Suning Commerce Group is leading the race to purchase the UK-based Stellar Group, a world leading soccer agency. It is reported that Suning is also close to buying a majority stake in Italian top-flight soccer club Inter Milan.

Stellar, which could sell for around 900 million yuan (94.5 million pounds), has also attracted Chinese suitors including the Evergrande Group and other private investors.

Although there has been no official comment on this story, Yutang is aware that Stellar’s chairman Jonathan Barnett attended a Chinese Super League match between Guangzhou Evergrande and Shanghai SIPG during his recent “China Tour”.

As revealed in an earlier report, at least four Chinese companies, including model car maker, the Rastar Group, were in talks to acquire Stellar.

“A final deal is likely to see a strategic investor such as Suning taking a majority stake in Stellar backed by banks and private investors”, according to Reuters who cited a source involved in the negotiations.

Source: Reuters

Proofread by Sean O Diobhilin