The Vatican sells the London building that is the subject of the deal on trial to the Bain Capital fund: 186 million pounds collected

The Vatican sells the London building that is the subject of the deal on trial to the Bain Capital fund: 186 million pounds collected

While in the Vatican the hearings of the trial have been going on for almost a year now, with ten defendants, born from the purchase of the prestigious property by the State Secretariat“In recent days the Administration of the patrimony of the Apostolic See has completed the sale a Bain Capital del palazzo in 60 Sloane Avenue a London with a total income of 186 million pounds“. By giving the news, Apsa also explained that the Secretariat for the Economy “followed the entire procedure in its various phases. The losses found compared to the amount spent for the purchase of the property were conferred from the reserve of the Secretariat of State – he added -, without in any way in this circumstance the Pence of St. Peter is touched, and with it the donations of the faithful “used for the purchase. Losses related to the deal had been assessed in the past few months between 66 and 150 million while the overall ones at the center of the ongoing trial, therefore not relating only to the London building, were indicted in the courtroom by the adjunct justice promoter Alessandro Diddi in 217 million euros .

To ensure the transparency and independence of the Sloane Avenue 60 property valuation process, the Holy See enlisted the assistance of the real estate broker Savills, “Selected at the end of a tender procedure launched in January 2021 under the supervision of real estate advisors”, Apsa said again. In September 2021, the same Administration “received the first round of 16 offers, subject to due diligence in the following months, followed by the second round of three offers, also subject to appropriate investigations. The operation was completed in recent months with the choice of the buyer and, finally, with the deed of sale ”, he concludes.

The buyer, Bain Capital is one of the major investment companies private to the world. US company based in Boston in Massachusetts specializes in acquisitions, private equity, venture capital, credit, public equity, and real estate. It invests in a wide range of industries and geographies and has managed approximately $ 130 billion in invested capital as of 2020. Meanwhile, the hearings of the trial will resume in the multipurpose hall of Vatican museums on 7 and 8 July, with the conclusion of the interrogations of the accused. On 14 and 15 July and then after the summer break, however, the parties will begin to parade witnesses: in everything, the president always explained in the courtroom Giuseppe Pignatonethe trial foresees about 200.

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