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Fininvest

fininvest, fininvest group
Finanziaria d'investimento Fininvest SpA known as just Fininvest SpA is an Italian holding company controlled by the Berlusconi family and managed by Silvio Berlusconi's eldest daughter Marina Berlusconi

Contents

  • 1 Structure
  • 2 Other investments
  • 3 Controversies
  • 4 References
  • 5 External links

Structureedit

The Fininvest group is composed of a number of companies, such as Arnoldo Mondadori Editore one of Italy's leading publishing companies, Teatro Manzoni it a theater in Milan, Alba Servizi Aerotrasporti a private jet company and Fininvest Gestione Servizi

Fininvest is the largest shareholder of Mediaset, which is currently the biggest private entertainment competitor in Italy, owning three channels in Italy Canale 5, Italia 1, Rete 4, two in Spain, the film production company Medusa Film, a digital TV broadcasting network, and many other companies related to TV broadcasting The deal to sell Mediaset Premium was collapsed in 2016

Fininvest's voting rights on Mediolanum SpA was capped at 99999% by Italian Insurance Supervisory Authority despite owning about 36% share capital of the financial conglomerate;5 the company revered merger with subsidiary Banca Mediolanum in 2015 Fininvest had a shareholders' pact with Ennio Doris the pact only bind to 255% share each, excess amount of share was not bind,6 the largest shareholder of Banca Mediolanum, making the pact had an absolute majority in the bank for 51% share capital

On 5 August 2016 Fininvest signed a preliminary agreement to sell 9993% stake of AC Milan to a Chinese private equity fund Sino-Europe Sports7 The deal was completed on 13 April 2017

On 15 February 2017 Fininvest announced that they bought an additional 29% shares of Mondadori increased to 53299%8 It was followed by and additional 127% shares of Mediaset on 12 May9 Fininvest had also purchased more shares in December 2016,10 in response to ostile takeover by Vivendi

Other investmentsedit

Fininvest owned 099% stake in Mediobanca, and was part of the shareholders' pact that owned about 31% stake in the bank in total11

Controversiesedit

The Berlusconi family does not control the company directly Instead, its shares are owned by 38 separate companies, all named 'Holding Italiana' followed by a number 1-38, most of which are in turn controlled by Berlusconi These 'Holding Italiane' have repeatedly come under investigation by the police for various financial and accounting irregularities, slush funds and money-laundering All of them were created at the end of the 1970s by covert associates of Berlusconi's and received significant investments several hundreds of millions of euros at today's value from still unknown sources Some of their liquidity was even deposited in cash Much of the documentation of that time relative to the early financial and banking operations of these companies has been lost, in one case in a fire

A report on those matters was commissioned by the general Dipartimento Investigativo Anti-Mafia Bureau of Anti-Mafia Investigation of Palermo in the 1990s from a finance expert working at the Bank of Italy, Francesco Giuffrida, to supplement the evidence in a tentative case against Berlusconi and associates for their alleged involvement with the Sicilian Mafia In 1998 the case was temporarily shelved because of lack of sufficient evidence to go to trial

Referencesedit

  1. ^ http://wwwfininvestit/en/group/company_structure
  2. ^ 2015 bilancio purchased from Registro Imprese of CCIAA on 24 September 2016 Available to download for 5-year by using document id: 222694537 and passcode: SYCHF9 in Italian
  3. ^ 2015 Consolidated Financial Statements at 31 December 2015, purchased on 27 September 2016 in Italian
  4. ^ "Annual Report 2015" Fininvest 2016 circa Retrieved 28 September 2016 
  5. ^ "COMUNICATO STAMPA CONGIUNTO" PDF in Italian FinProgItalia SApA di Ennio Doris & C / Fininvest 2 April 2016 Retrieved 24 September 2016 
  6. ^ "Estratto di patti parasociali ai sensi dell’art 122 del dlgs 2421998, n 58 e dell’art 129 Regolamento Consob del 14 maggio 1999, n 11971" PDF in Italian Banca Mediolanum 16 September 2016 Retrieved 24 September 2016 
  7. ^ "Comunicato Stampa – Milan: Fininvest firma preliminare di vendita con cordata cinese" Press Release – Milan: Fininvest signs preliminary selling agreement with Chinese group of investors PDF in Italian Fininvest 5 August 2016 Retrieved 9 August 2016 
  8. ^ "Fininvest sale al 53,3% del capitale Mondadori" PDF Fininvest 15 February 2017 Retrieved 3 March 2017 
  9. ^ "Fininvest sale al 41,09% dei diritti di voto Mediaset" PDF in Italian Fininvest 12 May 2017 Retrieved 20 May 2017 
  10. ^ "Mediaset: Fininvest sale a quasi il 40% dei diritti di voto" PDF in Italian Fininvest 13 December 2016 Retrieved 24 December 2016 
  11. ^ "Accordo per la partecipazione al capitale di Mediobanca" in Italian Mediobanca 5 July 2016 Retrieved 27 September 2016 

External linksedit

  • Official website in Italian in English

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    29.10.2014


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