Campari Owner in Talks to Settle Italy Tax Case for €400 Million

The owner of spritz maker Davide Campari-Milano NV is in advanced talks with Italian authorities to pay about €400 million ($465 million) to settle a criminal tax probe, according to people familiar with the matter.

The preliminary accord reached earlier this month would resolve the case over Lagfin SCA’s treatment of €5.3 billion ($6.2 billion) in capital gains, the people said, asking not to be named discussing a private matter.

The holding company is seeking to spread the payment over time, the people said. Italian authorities seized €1.3 billion in Campari shares in October as part of the alleged ...