The five children of the late media tycoon Silvio Berlusconi accepted their father’s will “in full harmony,” said the heirs of the former Italian prime minister, quoted by Reuters.
The heirs became the sole owners of the Fininvest family holding. They agreed to a five-year lock-up period during which their shares would remain unchanged, a person familiar with the matter told Reuters.
Testament of former Italian Prime Minister Silvio Berlusconi
Berlusconi, who died in June at the age of 86, in his will gave his eldest children, Marina and Pier Silvio, majority control of Fininvest, which has assets worth 4.5 billion euros.
“Marina, Pier Silvio, Barbara, Eleonora and Luigi Berlusconi announce that they have accepted their father’s inheritance, interpreting his last wishes in complete harmony, to honor his memory with deep gratitude,” the heirs said in a joint statement.
They also signaled unanimity in waiving the possibility of accepting the inheritance with the benefit of inventory, which would lengthen the procedure because it requires control to limit any liabilities to the value of the assets – told Reuters.
Marina and Pier Silvio, children from his first marriage Silvio Berlusconihave been at the helm of family media and television companies Mondadori and MFE-MediaForEurope, formerly Mediaset, for decades.
Marina has chaired Fininvest since 2005. The family holding company also owns 30 percent. shares in the Italian Banca Mediolanum, worth EUR 1.8 billion at current market prices, as well as in the first league football club AC Monza.
Marina and Pier Silvio will own a total of 52%. shares in Fininvest – as a source told Reuters. The rest of the shares will belong to Berlusconi’s three younger children, offspring from his second marriage.
Barbara, Eleonora and Luigi will have the right to elect three members of the Fininvest management board under the agreement with the oldest siblings, the source added.
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