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Berlusconi sells the “Giulio Cesare” and “Fiamma” cinemas and a bar to an actor and the Ministry of Culture

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Berlusconi sells the “Giulio Cesare” and “Fiamma” cinemas and a bar to an actor and the Ministry of Culture
Written by aquitodovale

Silvio Berlusconi sold a bar, two cinemas and an apartment in the center of Rome, realizing huge capital gains. According to rumors, a bar and a cinema (the “Giulio Cesare”) were bought by Andrea Occhipinti’s film production company Lucky Red. The other cinema (the “Flame”), indirectly from the Ministry of Culture with money from the NRP. Then in London the former premier sold shares in a fintech company bringing home a profit of 12 million on 3 invested: the company is called Soldo. Finally, he paid out € 300,000 for a new kitchen to be made available to the players of his beloved Monza. Berlusconi’s flair for business, even through an intermediary Fininvest, is indisputable and holds up to the passing years.

The small bar worth 600 thousand euros

For some time the managers of the former prime minister have been probing the market to sell the Roman cinemas “Giulio Cesare”, “Fiamma” and “King”. A first result was achieved with the sale for 4.3 million of the “Giulio Cesare” multiplex, in the homonymous street a stone’s throw from the Vatican. The net gain was 1.5 million. Then the small bar adjacent to the cinema was also sold for € 600,000, with a net income of € 544,000. In both cases, Andrea Occhipinti would have bought the properties with his film production and distribution company, Lucky Red, which is also the relative majority shareholder of Circuito Cinema. But there are no confirmations: the Occhipinti company did not respond to a written request for clarification. The initials C + C appears on the doors of the cinema, closed for the summer break. And at the adjacent bar the managers, conversing between an excellent cappuccino and a decent croissant, say that the owner of the walls has changed and now they no longer pay the rent to Fininvest but to Lucky Red.

The Flame sold with the Pnrr

Meanwhile, Berlusconi’s managers in recent months had entered into negotiations with the intermediary Realty Advisory for the “Fiamma” cinema at an estimated price of 3 million. Just in these days it has been officially known that the cinema of the “premiere” of the Dolce Vita and many other films of the golden age, strategically located between Via Veneto and Piazza Barberini, closed for years, will reopen in December 2023 and will become a multifunctional cinema center with two rooms, a study room, a cafeteria: it was purchased with European funds from the NRP (3.1 million) and entrusted to the Experimental Center of Cinematography Foundation, an emanation of the Ministry of Culture. Another box arranged of the Berlusconian brick.

The coup of the Holy Apostles

And the very central Roman apartment? Is found in Piazza SS Apostoli, a few tens of meters from Piazza Venezia and Via del Corso. We don’t know who bought it but we know how much he spent: 1.7 million. The building was subject to the monumental historical constraint and for this reason the Ministry of Culture had a right of first refusal which was not exercised. The former premier’s company made a net gain of 480,000 euros. Many of these operations, which went through until the first months of 2022, are “reported” (but without any indication of the counterparties) in the financial statements of Fininvest Real Estate & Services (Fininvest Re), one of the many subsidiaries of the Cavaliere group (62 %) and family, with a portfolio of properties and equity investments.

The kitchens of Monza

The most important asset is the Villa Gernetto real estate complex. The main residence is rented for conventions and commercial or institutional initiatives. The complex also includes a real estate portion called Villa Boffalora, rented by Monza football for team retreats in home league matches. Here they have been allocated 300 thousand euros “for the installation of a kitchen”. Adriano Galliani, who is president of Finvest Re and managing director of Monza, perhaps aims to take some high-level footballers by the throat. Last year, in a judicial auction at the Monza court, Fininvest Re was awarded agricultural land adjacent to Villa Gernetto for just over 800 thousand euros, with an extension of 178 thousand square meters.

Many “Soldo”

On the other hand, the stratospheric capital gain (+ 400%) made with the English company Soldo, in which Luigi Berlusconi, the youngest son of the leader of Forza Italia, had also invested. Fininvest Re had a small stake of around 3% with the shares on the balance sheet at € 241.44 each. It sold most of it at a unit market price of 1,155.33 euros for a total of over 15 million. The net gain was 12 million. The entire Soldo, active in payment services, was valued at 475 million a year ago.

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