Felix Raimondi on Twitter is reporting that there has been a exchange of AC Milan shares between two holding companies. As reported by Sempre Milan, the change happened in Luxembourg between the Genio Investments LLC and King George Investments LLC, who make up the holding group of Project Redblack. 120 shares switched hands from Genio Investments to King George Investments. The American firms now hold 4,199 and 1,800 shares respectively.
Project Redblack, scatola che detiene indirettamente la proprietà di AC Milan, ha comunicato in Lux un cambio di quote societarie tra le stesse società attualmente proprietarie pro quota della stessa Project, ossia King e Genio, con sede in Delaware e riferibili ad Elliott. pic.twitter.com/LyUFdxdv49— Felix (@FeliceRaimondo) July 2, 2020
Raimondi says, “The usefulness of this maneuver is still to be deciphered, but it is better to keep the antennas straight.”
On the purpose of the exchange and the occurrence of it he adds, “It depends on the aims of the company, therefore it is impossible to know in this case, obviously the hope is that of everyone, that is, that the movement is connected in some way to club news. Yes, it’s the first time [for this to occur] since Elliott has been there.”