ITALY: Morgan Stanley ups stake in Campari
The US-based mutual fund, Morgan Stanley Investment Management, has almost doubled its stake in the Italian drinks group, Davide Campari. According to a statement by the Italian stock market regulator, Consob, Morgan Stanley has increased its stake in Campari from 5.199% to 9.389%.
The transaction was carried out last week. Morgan Stanley Investment Management manages a fund on behalf of institutional investors worth in the region of US$170 billion.
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Davide Campari-Milano has posted a slight rise in net sales and profits for the first nine months of this year....
Davide Campari-Milano SpA has amassed a EUR500m war chest for acquisitions, according to the Italian company's CEO Enzo Visone....
Campari has had its rating cut....
Davide Campari-Milano S.p.A. has seen a 2.6% rise in sales drive growth across all profitability indicators in the first half of the year....
US investment house Citigroup Smith Barney has cut its rating on Italian drinks group Davide Campari-Milano SpA from "buy" to "hold"....
Goldman Sachs has initiated coverage of Davide Campari-Milano shares....
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