MILAN — Italy’s fiscal authorities announced Tuesday evening that they have initiated checks into the sale of Bulgari and Parmalat shares to LVMH Moët Hennessy Louis Vuitton and Lactalis, respectively.
“The financial administration will verify the respect of the provisions that regulate, within the determined conditions, the taxation in Italy of revenues derived from such operations,” the tax agency said in a statement.
Bulgari had no comment.
Earlier this month, LVMH agreed to acquire 50.4 percent of the Italian jeweler in a cash-and-share swap with the founding Bulgari family. LVMH plans to make a bid for the remainder of the company and is set to pay 4.3 billion euros, or $6.09 billion at current exchange.
French group Lactalis said it had amassed a 29 percent stake in Italy’s food company Parmalat.