Italy's Rcs and Blackstone reach settlement over property dispute - source

Rizzoli Corriere Della Sera Mediagroup SpA

15/07/2022 12:39

MILANO, July 15 (Reuters) - RCS MediaGroup  RCS.MI  and
Blackstone  BX.N  have reached an agreement to settle the legal
row on the disputed sale of the headquarters of the Italian
publishing company by the U.S. fund in 2013, a source close to
the situation said on Friday.
    RCS, which publishes the influential daily Corriere della
Sera, launched arbitration proceedings in 2018 to try to nullify
the 2013 sale of its historic headquarters in Milan to
Blackstone, saying the price had been too low at a time when RCS
faced financial difficulties.
    But an arbitral tribunal and a Milan court ruled in favour
of Blackstone.
    

 (Reporting by Claudia Cristoferi, editing by Gianluca Semeraro)
 ((gianluca.semeraro@tr.com; +39 06 80 307 741;))