Overview
- Leonardo Maria Del Vecchio used an open letter to publicly urge Delfin’s board to back his plan to buy the combined 25% stake owned by his siblings, which would raise his holding to 37.5% and make him the largest shareholder.
- The proposed purchase depends on a complex €10 billion financing package reported to involve UniCredit, BNP Paribas and Crédit Agricole, a loan size that has prompted extra scrutiny from lenders.
- Participating banks have pressed for clear commitments on future dividends, Delfin’s capital stability and the holding’s long-term strategy, demands that Del Vecchio highlighted as slowing progress on the deal.
- Delfin chairman Francesco Milleri is reported to be weighing an alternative for the company to repurchase Luca and Paola Del Vecchio’s stakes if financing or board consensus cannot be secured.
- Delfin’s net asset value above €40 billion and major stakes in EssilorLuxottica and key Italian banks mean the outcome could reshape family succession, corporate governance and banking consolidation debates in Italy.