MILAN, Dec 23 (Reuters) - Campari's <CPRI.MI> controlling shareholder Lagfin said on Tuesday it had regained all its shares in the Italian spirits group which were seized by Italian authorities in
Lagfin Recovers Campari Shares Following Tax Agreement
MILAN, Dec 23 (Reuters) - Campari's <CPRI.MI> controlling shareholder Lagfin said on Tuesday it had regained all its shares in the Italian spirits group which were seized by Italian authorities in October due to a tax dispute.
The release of the stock in question - equal to roughly 18% of Campari's outstanding shares - follows a settlement reached earlier this month between the Luxembourg-based holding company and Italy's revenue agency over alleged tax evasion.
Under the agreement, Lagfin, which owns 51% of Campari, will pay the Italian authorities 405 million euros ($477.78 million)over four years.
The figure amounts to roughly a third of the 1.29 billion euros' worth of Campari shares that Italy's tax police seized around two months ago.
($1 = 0.8476 euros)
($1 = 0.8477 euros)
(Reporting by Elisa Anzolin, editing by Gavin Jones)
