Find its epilogue lo clash between Blackstone and RCS Mediagroup for the historic Corriere della Sera headquarters in via Solferino. The agreement reached, explains a note, "involves a mutual waiver of all shares and RCS has agreed to pay a contribution of 10 million euros to the expenses incurred by Blackstone". Furthermore, the publishing group (which, in addition to Corriere della Sera, also publishes the Gazzetta dello Sport) will acquire, at the price of 59,9 million, the historic headquarters of the Corriere in Via Solferino, excluding the other blocks of the building complex sold in 2013. operation of 2013”.
The agreement closes a dispute that reached the Chamber of Arbitration of Milan - overwhelmed by the private US – and to the Court of New York, 10 days after the key appointment in which the conclusions of the Court of New York were awaited on the jurisdictional competence of Blackstone's compensation case worth half a billion against RCS and Urbano Cairo.
"RCS acknowledges that Blackstone has not engaged in any impropriety and regrets the inconvenience caused by the dispute", commented the RCS chairman and chief executive officer, Urban Cairo.
RCS-Blackstone clash: what happened?
Ten years ago, the newspaper and the publishing group that published it were in dire straits, so the building in via Solferino was put up for sale and purchased by the American fund in 2013. "On disadvantageous terms", according to Urbano Cairo, who took over as head of Rcs a few years later and decided to invalidate the sale.
An arbitration and legal proceeding by the new RCS of Cairo followed. To which Blackstone's counterclaim in the United States answered. In 2018, the American fund was about to sell the building in via Solferino to Alliance insurance company, the agreement jumped at the time of the lawsuit brought by the Corriere.
