DEOLEO S.A. (ES:OLE) has released an update.
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Deoleo S.A. faces a financial setback as its subsidiary, Carapelli Firenze, received an unfavorable ruling in a tax dispute amounting to approximately 89 million euros. The dispute centers on customs regulations and Carapelli Firenze’s job-processing contract, which the Customs Office claims should not have qualified for tax exemptions. Despite the ruling, Deoleo plans to appeal, citing strong legal arguments and continues to receive support from its main shareholders.
For further insights into ES:OLE stock, check out TipRanks’ Stock Analysis page.
