Leonardo Maria Del Vecchio Proposes Buyout of Delfin Family Shares to Block Czech Takeover of EssilorLuxottica
Leonardo Maria Del Vecchio has proposed acquiring all family shares in holding company Delfin, which controls 32.4% of EssilorLuxottica, to prevent a takeover by Czech billionaire Michal Strnad. In a letter to Italian newspaper QN, Del Vecchio stated he secured confidential international financial backing for an immediate or phased acquisition. The move aims to provide liquidity to family members while preserving Italian sovereignty over assets including stakes in Monte dei Paschi di Siena, Generali, UniCredit, and Covivio. This initiative follows Del Vecchio’s resignation from operational roles at Ray-Ban and strategy positions on August 31 due to disagreements with CEO Francesco Milleri. He retains 12.5% of Delfin and plans to present his full buyout proposal to other shareholders on November 7.