Campari: stock up as Lagfin increases shareholding

(CercleFinance.com) - Campari jumped on the Milan Stock Exchange on Thursday morning after announcing that its reference shareholder, the Luxembourg holding company Lagfin, was planning to increase its stake in the company.


In a financial notice, Lagfin - which already controls 51.4% of the shares and 82.5% of the voting rights - stated its intention to acquire a further 100 million shares, an operation estimated at some E700m based on last night's closing price.

The partnership limited by shares believes that the current share price of the Italian wine and spirits group does not reflect the intrinsic value of the company.

Lagfin thus reaffirms its long-term commitment to Campari, as well as its support for the group's strategy.

After reaching all-time highs in 2021, at the time of the Covid epidemic, the stock has steadily lost ground over the last three years.

The stock is currently rebounding by 7.5%, but is still down 27% since 1 January.


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