Prepare for the succession and for possible new alliances, while securing the stake in Fininvest. This would be the purpose of the corporate reorganization launched on 30 June by Barbara, Eleonora and Luigi Berlusconi, sons of Veronica Lario and Silvio Berlusconi.
The details of the H14 operation
Silvio Berlusconi's three younger children have divided into two H14, the holding company in which they hold an equal share of 31,33% of the capital and which controls 21,4% of Fininvest. The deal is worth 340 million euros.
According to reports from the Courier, it's about a proportional partial demerger with which H14 transfers a substantial part of its assets - excluding the Fininvest share - to a new company that replicates the same ownership structure. The purpose of the transaction would be to “isolate the stake in Fininvest from the rest of the portfolio and at the same time have a free hand to alliances with other investors in the new company, without risking external "contamination" in the government of the Biscione", reports the newspaper of via Solferino.
“The split — it is written in the draft signed by president Luigi Berlusconi — was born in the implementation of an entrepreneurial project with the aim of separating the characteristic investments (i.e. Fininvest and the Lauro stake) — which will remain in the hands of the demerged company within the perimeter of the same family nucleus — from the investment activities in the so-called private portfolios equity, hedge funds, digital and permanent capital by transferring them to the beneficiary company". A maneuver which – the document continues – “could allow the expansion of the corporate base” of the new H14 in the future.
The new H14 will have assets of 340 million, while the old company will remain 220 million euros.
In this context, it should be remembered that the holding company of Silvio Berlusconi's three minor children recorded a profit of 2021 million euros in 41,5, all distributable, therefore potentially around 14 million each in dividends.
