Campari Owner Settles Italy Tax Case for €405 Million

Lagfin SCA, the owner of spritz maker Davide Campari-Milano NV reached a settlement agreement with the Italian Revenue Agency regarding a tax dispute.

Under the terms of the agreement, and in exchange for the full withdrawal of the tax claim, Lagfin will pay a total amount of €405 million ($476 million) over a four-year period, according to a statement released on Tuesday.

Italian authorities seized €1.3 billion in Campari shares in October as part of an alleged tax-fraud probe. The investigation focused on the Luxembourg-based holding company Lagfin’s alleged failure to pay exit tax on about €5.3 billion of capital ...