MILAN (Reuters) – A Milan arbitral tribunal ruled on Friday in favour of Blackstone Group in a disputed sale of the headquarters of RCS, rejecting all claims made by the Italian publisher, a legal source and one with knowledge of the matter told Reuters.
RCS was not immediately available for comment.
RCS Mediagroup, which publishes the influential daily Corriere della Sera, launched arbitration proceedings in late 2018 to nullify the 2013 sale of its historic headquarters in central Milan to Blackstone, saying the U.S. investment firm had paid too low a price at a time when RCS faced financial difficulties.
Blackstone, which paid 120 million euros ($145 million) for the offices, has in turn accused RCS of falsely claiming that it still owns the building and of improperly blocking its sale to Germany’s Allianz.
(Reporting by Claudia Cristoferi and Alfredo Faieta, editing by Giulia Segreti)
