Andrea Orcel and Flavio Briatore
Loan from Unicredit to the Briatore holding company
Despite the profit of 1.6 million euros recorded in 2022, the accounts of the Luxembourg-based Majestas, the holding company that supervises the businesses of Flavio Briatore from the Grand Duchyremains with losses accumulated in previous years and not repaid amounting to 5.3 million.
Total assets are equal to 53.5 million and is represented by the various equity investments, nine in total: 100% of the Italian Billionaire srl, owner of the establishment of the same name in Costa Smeralda, 56.92% of Twiga srl owner of the bathing establishment of the same name in Forte dei Marmi, 44% of the Emirati Billionaire Mansion Investment, 52, 5% of the Luxembourg-based Crazy Pizza, owner of the pizzerias of the same name (Milan, Rome, Porto Cervo), 80% of Twiga Roma srl, 45% of Sam Sundream (Monaco), 45% of the English Sumosan Twiga, 40% of Cova Montecarlo and 33.5% of Seadream Sam (Monaco).
If you look at the net book value, i.e. the book value of the investments, the most relevant one is Sam Samdream of Monaco (17.9 million), followed by Seadream Sam also in Monaco (12.1 million). But in 2022, 4 of Majestas’ 9 subsidiaries closed in the red: Billionaire Mansion Investment, Crazy Pizza, Sumosan Twiga and Cova Monte Carlo. The explanatory note further states:
To indicate the turnover of around 4 million, this year Majestas signed a “lettre de patronage” for a loan granted by Unicredit to Billionaire srl. Who would have thought that Andrea Orcel finances Briatore?
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