Olivia Paladino, the partner of M5 leader Giuseppe Conte, has been with her sister Cristiana since August at the head of a major real estate group born from the merger of three companies in the sector founded by her father. Cesare Paladino, the big director of the operation. The two sisters now own 50% of the group, after having liquidated and released from the shareholding their half-brother Shawn John, son of their mother Ewa Aulin, who was a successful actress, by a legal agreement.
From the union of three companies a brick empire was born that has the Plaza at its center.
The merger decided by the founder in July involved three Paladino companies: Agricola Monastero Santo Stefano Vecchio, Archimede Immobiliare srl and Immobiliare di Roma Splendido srl. According to the balance sheets of the three companies, the value of the combined properties amounts to over 262 million euros, among which the highlight remains the walls of the Hotel Plaza, the five-star hotel located in the central Via del Corso in Rome. (whose management is however entrusted to another family business). The assets could have been even larger if the group had not gone through a financial crisis in recent years by reaching an agreement with the creditor banks that provided for a property sales program that then took place.
Green light after deal with half-brother who left group
The future of the Conte partner's group was threatened by the long family conflict with his brother, who had requested its liquidation by withdrawing from the companies and had received an initial refusal. However, an arbitration ruled in his favor and the sisters finally decided to liquidate his share. The initial request was for 12 million euros, finally an agreement was reached for a lower figure. From what seems to be Open The sum is expected to be around 10 million euros, but the agreement has been kept secret by the parties. Traces of it can be found in the minutes of the companies preparing for the merger, but the financial situation is referred to the accounts that have not yet been made public.
Read also:
