peace of 50 million between the Garavoglia brothers – Corriere.it

The Campari saga is enriched with a new chapter. Which tells of a 50 million euro agreement stipulated between the three Garavoglia brothers: Luca, Alessandra and Maddalena. The first two, gathered in the Lagfin holding, control 54% of the multinational that owns one of the best-known Italian brands in the world. The third, Maddalena, sued her brothers and her mother in 2000, accusing her of having been ousted from the Campari shareholding with a capital increase. In 2006 he won the trial obtaining 100 million in compensation; then a settlement closed the legal case.

The new fight

But not the quarrels in the family, destined to recur, ten years later, with the death of their mother Rosa Anna Magno who named Luca and Alessandra her sole heirs. Madeleine, come to know that the inventory of the mother’s assets had been made in 2017 in her absence by the notary, from his uncle (executor of his sister Rosa Anna’s will) and from the attorney who acted on behalf of the brothers (who were absent) filed a lawsuit against them. The criminal trial ended in 2022 with the acquittal of all the defendants with the broadest formula: Because the fact does not exist. At the time of the complaint, however, Luca and Alessandra Garavoglia’s lawyer had admitted the existence of other civil cases brought by Maddalena regarding the succession of her mother’s assets.

The transaction

Well, in this context a second transaction emerges from the balance sheet just filed by the Luxembourg safe Lagfin. On March 30, 2023, the company together with other defendants settled a dispute for which the plaintiff had initially demanded an amount exceeding 400 million, reads the document from the holding company of Luca and Alessandra Garavoglia. The anonymous applicant is none other than his sister Maddalena. Lagfin will pay the plaintiff a total amount of 50 million in several tranches: a first of 10 million in 2023 and 10 consecutive annual tranches starting from 2024 of 4 million each, continues the note from the company which, contacted, preferred not to comment , as well as Maddalena’s lawyer.

The assets of the Lagfin holding

The significant amount, but certainly not such as to affect the balance of the holding company. Suffice it to say that in April Lagfin collected 37 million in dividends from the subsidiary Campari from the 2022 financial statements, closed by the group with 2.7 billion in revenues and 333 million in profit. The grip on the family business was also strengthened because in the course of 2022 the safe bought Campari shares for 42.6 million, increasing its stake in the group listed on the Italian Stock Exchange from 53.9 to 54.3%. However, Luca and Alessandra Garavoglia have not neglected the principle of diversification so dear to finance, making investments in the real estate market, in private equity funds and in other companies. The safe has properties in particular in the Principality of Monaco, in France, in Italy and in the United Kingdom. Overall, their value has been estimated at almost 156 million euros. Also last year, Lagfin completed a reorganization, creating a new vehicle dedicated to future investments and assigning it 100 million in liquidity. DR Holding, this is the name, and Lagfin then registered a third company, DR Finance, which received funds for 200 million.