Blackstone sues RCS owner directly over disputed headquarters sale

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Blackstone sues RCS owner directly over disputed headquarters sale
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U.S. private equity firm Blackstone Group has launched legal action against the ...

FILE PHOTO: RCS MediaGroup S.p.A. logo is seen on top of the headquarters in Milan, Italy, April 7, 2016. REUTERS/Stefano Rellandini/File Photo

Filed in New York on April 22 and suing RCS Chairman Urbano Cairo directly, the latest action adds to the one Blackstone filed against RCS last November. The first lawsuit was put on hold on April 24 pending the outcome of arbitration in Italy. Cairo, who became RCS’ controlling shareholder in 2016, has said Blackstone bought the properties at too low a price when RCS faced financial difficulties, and the transaction should be declared void.

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