Latest news Campari shares worth 1.3 billion euros confiscated in Italy
The Italian financial police have confiscated almost 1.3 billion euros worth of shares in the Campari spirits group. This follows allegations of large-scale tax evasion in business transactions abroad.
01.11.2025, 11:06
SDA
This was announced by the investigating authorities. The shares belong to the majority shareholder of the traditional Milan-based group, the Luxembourg-based holding company Lagfin.
Campari is one of Italy's best-known brands. In addition to the bitter liqueur of the same name, the group also sells drinks such as Crodino and Cynar. The history of the company dates back to 1860.
The investigations into the holding company were triggered by a tax audit at the Italian branch in 2023/24. The financial police suspected that so-called exit tax profits - taxable capital gains arising from the transfer of assets abroad - had not been reported during an earlier merger. This is said to involve a sum of more than five billion euros that was not taxed.
The investigators are therefore accusing the holding company of a "fraudulent tax return". According to calculations by the financial police, the Italian tax authorities have lost an amount of more than 1.29 billion euros - the sum that has now been seized through the freezing of Davide Campari ordinary shares.
The confiscation took place on Friday evening after the close of trading. Lagfin holds 51.8 percent of Campari shares. The group is currently worth more than seven billion euros on the stock exchange.
