Market Chatter: Campari Group Chairman Reportedly Faces Italian Trial for Alleged Tax Evasion

06:35 AM EDT, 10/08/2026 (MT Newswires) -- Davide Campari-Milano (CPR.MI), d/b/a Campari Group, Chairman Luca Garavoglia could face trial in Italy over suspected tax evasion following a request by local prosecutors, Reuters reported Thursday, citing two sources familiar with the matter. Italian prosecutors allege that Lagfin, the Luxembourg-based family holding that holds a controlling stake in the spirits company, failed to pay a 1.29 billion-euro exit tax on 5.3 billion euros of undeclared capital gains from its 2018 merger with Italy's Alicros, which previously controlled Campari, the report said. Lagfin settled a related tax dispute with Italy's Revenue Agency in December 2025, agreeing to pay 405 million euros, following the confiscation of shares worth 1.29 billion euros. However, Italian law stipulates that tax proceedings and criminal investigations are separate and independent matters. Campari did not immediately respond to a request for comment from MT Newswires. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)