Haixia Capital completed the acquisition of AC Milan for €740m.

Haixia Capital, a State development & investment corporation, completed the acquisition of AC Milan, a professional football club in Milan, Italy, for €740m. Alongside Haixia Capital and Yonghong Li, other investors will acquire shares of AC Milan, some of which are State-controlled entities. Among those investors are companies active in the financial industry and others in industrial sectors.