Adds RCS not obtainable for remark, background
MILAN, June 30 (Reuters) – Blackstone Group BX.N has requested a court docket in New York to merge two lawsuits associated to a disputed property sale in Italy, whereas searching for damages for greater than $600 million from its former proprietor, in accordance with a submitting seen by Reuters.
The dispute issues the sale of the historic headquarters of Italian writer RCS RCSM.MI in central Milan.
RCS was not instantly obtainable for remark.
The writer of influential day by day Corriere della Sera launched arbitration proceedings in late 2018 to nullify the 2013 sale to Blackstone, saying the U.S. funding agency had paid too low a value at a time when RCS confronted monetary difficulties.
Blackstone, which paid 120 million euros ($145 million) for the workplaces, had in flip accused RCS of falsely claiming it nonetheless owns the constructing and of improperly blocking its sale to Germany’s Allianz ALVG.DE.
In Might, a Milan arbitral tribunal dominated in favour of Blackstone, rejecting all claims superior by the Italian writer.
(Reporting by Valentina Za, writing by Maria Pia Quaglia; enhancing by Agnieszka Flak)
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