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

·1 min read

MILANO, July 15 (Reuters) - RCS MediaGroup and Blackstone 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)