Infamous London Property Sold
The Vatican has sold the luxury London building at the centre of an ongoing corruption trial for $223.6M (€216M) (Vatican statement, July 1). Losses from the deal were covered by Vatican reserve funds …More
The Vatican has sold the luxury London building at the centre of an ongoing corruption trial for $223.6M (€216M) (Vatican statement, July 1).
Losses from the deal were covered by Vatican reserve funds, not the Peter's Pence. But this constitutes only a cosmetic difference.
The property venture began in 2014, when the Vatican's Secretariat of State bought the building for $390M (€350M). The new owner is Bain Capital, a $155B Boston-based investment company.
Picture: © Never House, CC BY-NC-ND, #newsNibujjkmrl
Losses from the deal were covered by Vatican reserve funds, not the Peter's Pence. But this constitutes only a cosmetic difference.
The property venture began in 2014, when the Vatican's Secretariat of State bought the building for $390M (€350M). The new owner is Bain Capital, a $155B Boston-based investment company.
Picture: © Never House, CC BY-NC-ND, #newsNibujjkmrl
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So that’s a final loss on the London building of about… €136m?