Sergio Erede, the great strategist of major financial operations, may have lost the magic touch
The great loser of the quarrel between Rcs And Blackstone is Sergio Erede, the lawyer more famous of Italy and for decades the infallible strategist of a thousand corporate transactions. The esteemed professional, born in Florence on August 14, 1940, he marked the line of Urban Cairo on two lines: the first is that Blackstone led the negotiations for the acquisition of the building of Via Solferino with “usurer“. This has not yet been confirmed by the Court from Milan but which, above all, has contributed to alienating the sympathies of the American fund towards Heir. Whose name had circulated as the director of the operation with which Edition and Blackstone herself were supposed to take over Atlantia but that, just from New York, it is been sent back to the sender. The reason is simple: Steve Schwarzmanbig boss of the fund that manages assets for over 41 billion dollars, is Jewish. And give of the usurer to a Jew it means perhaps the most infamous offense, given that it was precisely on the basis of this belief that persecutions were perpetrated in the past.
Not only. There is another major headache. Urban Cairo has chosen not to set aside even one euro in the RCS budget for the possible loss in the lawsuit brought by Blackstone against the Rizzoli. A choice that could now turn out to be hasty. The story is well known: the American fund asks a Rcs 300 million euros and the same amount to Urbano Cairo for the failed sale of the building in Via Solferino to Allianz for approximately 250 million euros. At the time of the sale, in fact, Blackstone managed to obtain, in 2013, a price of 120 million, according to the experts at least 33 million below the market parameters of the time. Moreover, Rcs he remains there, paying a rent of about 10 million a year.
It was not usury: and now what happens in New York
Heir claimed in his defensive strategy that it was a phenomenon of “usury”, since Blackstone would have taken advantage of it of the state of necessity of Rcs. Which it was prostrate after the bankruptcy acquisition of Recoletos in Spain and for a management which had brought ross to over 70 millionor. So when Cairo completed his climb to the Rizzoli first he went to comb through the accounts and he realized that something was wrong.
Here, however, the story gets complicated. It is clear that the valuation date of the property was lower than the real market values is that Blackstone has torn a better condition precisely because of the difficulties of Rcs. But the automatism carried out by the Cairo lawyers for which it was usury was not accepted by Court. We also remind you that the definition of any compensation will not take place in Milanor, but a New York where the competent court will have to decide how to do it. The premises, however, do not invite an excess of optimism.
In the case of July 25, the day of the new round in the affair, the American court should agree with Blackstone, for RCS rather difficult times would open. Failure to set aside at least a part of the compensation requested exposes the group company Cairo to a potential danger. The Alexandrian entrepreneur has always said he is convinced that there will be none unsuccessful. But the hope is that Blakcstoneafter the victory in Milan, he decides to put the property up for sale, completes a generous capital gain and concentrates on other matches, desisting from taking legal action also in the United States. More will be known on 25 July.
Read also:
Government, arms crisis in Kiev? June 21 key date. Conte and Salvini …
Dragons increasingly anti-Chinese: golden power on the sale of Robox
“The Pope is leaving? He cannot be excluded. After Ratzinger, possible resignations”
Minimum wage, Bombardieri (Uil): “Be careful not to weaken contracts”
Donnet to Affari: “Those who manage Generali have a great responsibility”
How to solve the age-old problem of prisons
Banning list, Orsini: I sue Corriere della Sera for defamation. VIDEO
Intesa Sanpaolo rewards sustainable growth at the Salone del Mobile
BPER and Wecity ignite the challenge for sustainable mobility
Pulsee, NFP is the first zero impact NFT collection
#Rcs #Sergio #Eredes #tactics #falters #York #game #opens