LionRock Capital cannot sell its shares without Suning's approval
The shareholders’ meeting yesterday approved the new composition of Inter board of directors, introducing two representatives of the new minority shareholder, LionRock Capital, a Hong Kong based fund that will hold 31.05% of Inter. The new members are Daniel Tseung, LionRock founder, and Tom Pitts, Senior Advisor of the company.
“We are very optimistic about the prospects for commercial development of sporting activities: Inter have great potential,” said Tseung. According to the Gazzetta dello Sport, in order for LionRock to sell more than 2% of its shares, they will need approval of Suning.