Campari shares down after $1.5 share seizure at parent company in tax evasion probe

Davide Campari Milano NV

03/11/2025 08:00

Corrects headline to add dropped word 'billion'

MILAN, Nov 3 (Reuters) - Shares in Campari CPRI.MI fell 5% in early trade on Monday after Italian tax police seized 1.29 billion euros ($1.50 billion) worth of shares in the Italian drinks maker held by its controlling shareholder for alleged tax evasion.

On Friday police said they were seizing Campari shares held by its controlling company Lagfin after a probe found 5.3 billion euros of undeclared capital gains on which the company failed to pay a tax levied on firms that transfer their fiscal residence abroad.

Lagfin denied any wrongdoing.

 (Reporting by Elisa Anzolin; Writing by Valentina Za;)

 ((valentina.za@thomsonreuters.com; +39 02 6612 9526;))