Campari is seeking €1.15 billion from the market to finance the acquisition of French Courvoisier cognacs. The group has stated that it intends to raise €650 million through a reserved placement of new ordinary shares. At the same time, the corporation will issue a €500 million convertible bond that matures in 2029. Multiplication of voting rights permitted by the Netherlands, where the organization relocated its headquarters in 2020, will ensure that the Garavoglia family's safekeeping will continue to safeguard Campari. Today, with a 54.4% stake, Lagfin can cast 84% of the votes at the shareholders' meeting. Campari will be able to obtain the necessary funds to finalize the acquisition of Courvoisier for an estimated $1.2 billion through the two transactions; this acquisition will be the most significant in terms of value in the company's history. The group directed by Bob Kunze-Concewitz (who will be succeeded by Matteo Fantacchiotti in April) will concentrate on the development of Courvoisier, a brand that was somewhat damaged under the previous ownership of the US business Beam Suntory. Félix Courvoisier created the Maison Courvoisier in Jarnac, Charente, France, in 1828. Napoleon III designated Courvoisier as the Official Supplier of the Emperor's House, and it was the Belle Époque's favorite drink, selected to commemorate the opening of the Eiffel Tower and the Moulin Rouge. The brand generated $249 million in revenue last year.
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