Lagfin owns more than 50% of the shares in Campari and has 80% of voting rights, the confiscation of shares has been ordered as part of a year-long investigation into how the company absorbed its Italian arm.

On Saturday, Italian financial authorities said that the confiscation of shares had been a “precautionary seizure order”.

In a statement, a spokesperson from Campari distanced the company from the investigation: “In relation to articles published by the media, Campari Group clarifies that the tax litigation between Lagfin and the Italian tax authorities does not concern either Davide Campari-Milano or any of its subsidiaries.

“Therefore, no impact whatsoever is expected for Davide Campari-Milano nor for any of its subsidiaries.”

According to its website, “Lagfin is the long-term controlling shareholder of Davide Campari-Milano N.V., the parent company of Camparti Group.”

The group is indirectly controlled by Luca Garavoglia who has served as the chairman of Davide Campari-Milano since 1994.