<div id="readability-page-1"><div><p><span>Leonardo Maria Del Vecchio is moving closer to reshaping control of EssilorLuxottica SA after reportedly reaching agreement to buy out two siblings in a deal valued at about 10 billion ($11.8 billion). A majority of shareholders in Delfin Sarl approved the proposal at an extraordinary meeting, according to Italian media, potentially giving the 31-year-old heir a 37.5% stake in the family holding company. The transaction follows months of negotiations with family members, alongside efforts to secure financing to acquire the combined 25% holdings of Luca and Paola Del Vecchio, positioning Leonardo Maria to become the largest shareholder in the structure.</span></p><p><span>The shift in ownership could place Leonardo Maria in a more influential role within the Ray-Ban maker at a time when the group is expanding into medical technology and AI-enabled eyewear through its partnership with Meta Platforms Inc. </span><span>. The agreement may also represent progress toward resolving the estate of founder Leonardo Del Vecchio, whose will requires consensus among eight heirs and has contributed to stalled decisionmaking. While most shareholders appear to have backed the proposal, some resistance could remain, with earlier reports suggesting another heir may oppose the plan or potentially explore selling a separate stake, a move that could trigger rights of first refusal within Delfin's structure.</span></p><p><span>Consolidating ownership at Delfin could open the door to further transactions, particularly as some family members have expressed interest in selling portions of the holding company's financial investments, including stakes in Banca Monte dei Paschi di Siena SpA and Assicurazioni Generali SpA. Leonardo Maria has been in discussions with lenders such as UniCredit SpA, BNP Paribas SA and Credit Agricole SA to finalize financing, which could be structured as a bridge loan backed by the enlarged stake. That structure may provide flexibility to reassess Delfin's governance and portfolio strategy, potentially shaping the next phase of capital allocation within one of the world's largest eyewear groups.</span></p></div></div>

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<p>Leonardo Maria Del Vecchio is set to acquire a 37.5% stake in Delfin Sarl for approximately $10 billion, following approval from a majority of shareholders. This deal, which involves buying out his siblings, positions him as the largest shareholder in the family holding company. The transaction aims to streamline ownership and decision-making within EssilorLuxottica SA, especially as the company expands into medical technology and AI eyewear. Financing discussions are ongoing with major lenders, potentially leading to a reassessment of Delfin's governance and investment strategy.</p>

Del Vecchio Heir Secures 10 Billion Deal For 37.5% Delfin Stake