Core Viewpoint - Lagfin, the Luxembourg-based holding company controlling the majority of Campari's voting rights, has agreed to pay €405 million ($474.5 million) to settle a tax dispute in Italy to protect the interests of all Campari shareholders [1]. Group 1: Tax Dispute Details - Lagfin had €1.3 billion ($1.49 billion) worth of shares seized by Italian authorities due to allegations of tax evasion [1]. - The Italian financial police enforced a precautionary seizure order over €1.29 billion of shares, claiming that capital gains exceeding €5.3 billion were left undeclared after Lagfin absorbed its Italian subsidiary [2]. - Lagfin maintains that it has always complied with applicable regulations, including Italian tax laws, and asserts that the exit tax was not applicable [3]. Group 2: Settlement Agreement - Lagfin will make an initial payment of €152 million by the end of the year, with the remaining amount to be paid in equal quarterly installments between June 2027 and September 20, 2029 [4]. - The company believes that litigation could have negatively impacted Campari's share price, despite Lagfin's confidence in prevailing in court [4]. Group 3: Corporate Purpose - Preserving control of Campari is central to Lagfin's corporate purpose, and the company aims to safeguard the interests of current and future investors [5].

Core Viewpoint - Campari asserts that it is not affected by the ongoing tax dispute involving its controlling shareholder Lagfin, despite the seizure of shares worth €1.3 billion ($1.49 billion) by Italian authorities due to alleged tax evasion [1][3][4]. Group 1: Tax Dispute Details - Italian financial police executed a precautionary seizure of €1.29 billion of shares from Lagfin, claiming that capital gains exceeding €5.3 billion were not declared and taxed as required by law [2]. - The tax dispute has been ongoing for approximately two years and has never involved Campari Group directly [4]. Group 2: Company Statements - Campari Group clarified that the tax litigation does not concern Davide Campari-Milano or its subsidiaries, indicating no expected impact on the company [3]. - Lagfin expressed confidence in its compliance with applicable laws and regulations, asserting that it will defend itself vigorously in legal forums [4]. Group 3: Market Reaction - Following the news, shares of Campari, known for brands like Aperol and Courvoisier, fell by 3.54% [5].