The Italian drinks maker Campari will book a €34m capital gain in its 2003 results after it sold its main office building in Milan to a Morgan Stanley fund.

In a statement, Campari said it sold the modern building in central Milan to Morgan Stanley Eurozone Office Fund for €47m.

Under a deal with Morgan Stanley, Campari will keep its headquarters in the via Turati office under a six-year lease.

The maker of the famous bitters brand will then move to new offices it is going to build in the Sesto San Giovanni suburb.