Italy’s RCS says it may win damages in dispute with Blackstone after ruling

spike

MILAN (Reuters) – Milan’s Arbitral Tribunal has judged that the contracts over the sale of Italy’s RCS (RCSM.MI) headquarters to Blackstone Group Inc (BX.N) in 2013 were valid but found that the purchaser’s behaviour may entitle the Italian publisher to compensatory damages, RCS said on Tuesday.

FILE PHOTO: The ticker and trading information for Blackstone Group is displayed at the post where it is traded on the floor of the New York Stock Exchange (NYSE) April 4, 2016. REUTERS/Brendan McDermid

The case centres on the ownership of RCS’s historic headquarters in central Milan, which Blackstone bought

Read More

Blackstone risks paying damages in dispute with Italy’s RCS

spike

FILE PHOTO: The ticker and trading information for Blackstone Group is displayed at the post where it is traded on the floor of the New York Stock Exchange (NYSE) April 4, 2016. REUTERS/Brendan McDermid

MILAN (Reuters) – Milan’s Arbitral Tribunal has judged that the contracts over the sale of Italy’s RCS (RCSM.MI) headquarters to Blackstone (BX.N) in 2013 were valid but found that the purchaser’s behaviour may entitle the Italian publisher to compensatory damages, RCS said on Tuesday.

The case centres on the ownership of RCS’ historic headquarters in central Milan, which Blackstone bought from RCS

Read More

NIBC says it will pay 2019 dividend to Blackstone to ensure acquisition

spike

FILE PHOTO: The ticker and trading information for Blackstone Group is displayed at the post where it is traded on the floor of the New York Stock Exchange (NYSE) April 4, 2016. REUTERS/Brendan McDermid

AMSTERDAM (Reuters) – Dutch bank NIBC Holding NV (NIBC.AS) said late on Monday it has agreed to pay its 2019 dividend to its proposed buyer, U.S. equity firm Blackstone Group Inc (BX.N), before the deal settles, in order to remove one hurdle to the proposed 1.36 billion-euro ($1.47 billion) takeover.

NIBC said in April it would delay payment of its 0.53 euro

Read More

Target, Eli Lilly, Hershey, Blackstone, Gap & more

spike

Take a look at some of the biggest movers in the premarket:

Eli Lilly (LLY) – The drugmaker reported quarterly earnings of $1.75 per share, beating the $1.48 a share consensus estimate. Revenue was also above Street forecasts. Lilly’s worldwide revenue was boosted by $250 million due to Covid-19, but the company said the virus could negatively impact results later in the year.

PulteGroup (PHM) – The home builder’s bottom line came in 4 cents a share above estimates at 74 cents per share, with revenue essentially in line with expectations. PulteGroup said consumer traffic and sales slowed in mid-March

Read More