Bee Taechaubol has confirmed an agreement has been reached to buy a 48 percent stake in Milan from president Silvio Berlusconi.

The Thai businessman was granted exclusive rights to discuss a deal with Milan's owners in early June and those talks have now reached a successful conclusion, with Berlusconi and his company Fininvest holding the majority share.

"A great honor to complete the AC Milan agreement with president Berlusconi, a phenomenal leader," Taechaubol posted on Instagram with a picture of himself and the Milan president.

Meanwhile, Taechaubol gave an insight into his plans for the club in an interview with Mediaset – a company owned by Berlusconi.

"We signed an agreement that allows our investors to start working very soon for the club", he is quoted as saying. 

"We agree we want to grow Milan more around the world. I will be seen most at San Siro in the role of a supporter with president Berlusconi."