Stellantis and Ferrari Chairman John Elkann has agreed to do a year of community service and pay a negotiated sum to settle a tax dispute over the inheritance from his grandmother, Italian prosecutors said Monday.

John Elkann and two of his siblings will pay €183m to settle an Italian inheritance tax dispute.

Prosecutors in Turin have said that Stellantis and Ferrari Chairman John Elkann has agreed to do a year of community service in order to close a criminal investigation into…