Campari holding firm nears 400 mln euro tax settlement, sources say
Lagfin, Campari's holding company, is nearing a 400 million euro settlement with the Italian Revenue Agency to resolve a tax dispute.Summary
Lagfin SCA, the Luxembourg-based holding company of Italian drinks group Campari, is in advanced discussions with the Italian Revenue Agency to settle a tax dispute for approximately 400 million euros ($464.88 million), according to three sources familiar with the matter. This settlement amount represents roughly one-third of the 1.29 billion euros worth of Campari shares seized in October by the Guardia di Finanza during a probe into alleged unpaid taxes.
The proposed agreement involves multiple installments, with an initial payment of 150 million euros due by the end of the year and subsequent tranches scheduled from 2027 onwards. Lagfin intends to fund the initial payment using existing cash reserves. Both Lagfin and Campari previously denied any wrongdoing when the share seizure occurred.
The investigation, launched by Milan prosecutors last year, revealed approximately 1 billion euros in allegedly unpaid taxes owed by Lagfin between 2018 and 2020. The settlement aims to resolve these outstanding tax liabilities and conclude the ongoing dispute.
(Source：Reuters)