FOGGIA – Olivia Paladino, partner M5s leader Giuseppe Contesince this August, he has found himself at the head of an important real estate group created by the merger of three companies in the sector, founded by his father Cesare Paladino, who, together with his sister Cristiana, is the senior director of the operation.
Both sisters now own 50% of the group after their half-brother Sean John, the son of successful actress mother Ewa Auli, was removed from the stake in a legal agreement.
From the union of the three companies, a brick empire was born, with the Plaza at its center
Three Paladino companies participated in the merger decided by the founder in July: Agricola Monastero Santo Stefano Vecchio, Archimede Immobiliare srl and Immobiliare di Roma Splendido srl.
According to the balance sheets of the three companies, the combined properties are worth more than 262 million euros, and the strong point among them remains the walls of Hotel Plaza, a five-star hotel in the center of Via del Corso in Rome. (its management is entrusted to another family company).
The assets could have been even more significant if the group had not gone through the financial crisis in recent years by contracting with creditor banks.
After the green light operation, the stepbrother left the group
The future of Conte’s joint venture has been put at risk by a long-running family feud with his brother, who asked the companies to withdraw and was initially refused. But arbitration ruled in her favor and the sisters eventually decided to cancel her share.
The initial request was 12 million euros, but in the end an agreement was reached for a lower figure.
According to Open, the amount should have been close to 10 million euros, but the agreement was kept secret by the parties.
Traces of this can be found in the minutes of companies preparing to merge, but refer to financial statements whose financial position has not yet been made public.