Leonardo Maria Del Vecchio launches €29.6 billion bid for Delfin

Delfin Sarl Leonardo Maria Del Vecchio EssilorLuxottica Michal Strnad family holding company

Leonardo Maria Del Vecchio, president of Lmdv Capital, has issued a formal offer to acquire the shares of Delfin Sarl, the family holding company that controls a significant stake in EssilorLuxottica. The proposal, valued at approximately €29.6 billion, aims to consolidate control within the family and prevent a takeover attempt by Czech billionaire Michal Strnad, who recently offered €30 billion for the holding.

Del Vecchio stated in a letter published in QN Media that he has secured financing from a major international credit institution, with reports indicating Citigroup may provide up to €22 billion in credit. The offer includes options for both immediate total acquisition and more gradual buyout structures, providing flexibility to the other seven shareholders, each of whom holds a 12.5% stake.

This move follows a period of intense legal and familial conflict. Del Vecchio announced he has instructed his lawyers to drop legal actions against certain family members in an effort to foster dialogue. The battle for Delfin is seen as a high-stakes struggle for the legacy of the late Leonardo Del Vecchio, as the holding company’s assets are valued at over €40 billion.

Entities

Citigroup · Czechoslovak Group · Delfin · Delfin Sarl · EssilorLuxottica · Leonardo Del Vecchio · Leonardo Maria Del Vecchio · Michal Strnad

Claims

What the coverage asserts, and how many sources carry each claim.

[● 4 SOURCES] Strnad’s offer would require the approval of all eight shareholders to change ownership restrictions. www.ilcorrieredelgiorno.it · www.ad-hoc-news.de · cpp-luxury.com · www.patria.cz
[● 6 SOURCES] Leonardo Maria Del Vecchio has instructed his lawyers to drop legal actions against some family members. www.ilsannioquotidiano.it · www.forchecaudine.com · www.spazio50.org · citynotizie.it · sapo.pt · +1 more
[● 5 SOURCES] Strnad’s offer represents a 30% discount on the estimated net asset value of Delfin. www.ilcorrieredelgiorno.it · www.ad-hoc-news.de · cpp-luxury.com · praguemorning.cz · www.mononews.gr
[● 2 SOURCES] Rocco Basilico rejected a €3.5 billion proposal from Leonardo Maria Del Vecchio to buy his 12.5% stake. cpp-luxury.com · sapo.pt
[● 8 SOURCES] Michal Strnad offered €30 billion to acquire Delfin. www.ilcorrieredelgiorno.it · praguemorning.cz · www.ad-hoc-news.de · cpp-luxury.com · www.patria.cz · +3 more
[● 8 SOURCES] A major international credit institution is available to finance Del Vecchio’s operation. www.ilsannioquotidiano.it · www.forchecaudine.com · www.spazio50.org · www.ilcorrieredelgiorno.it · citynotizie.it · +3 more
[● 9 SOURCES] Leonardo Maria Del Vecchio sent an offer to Delfin shareholders to purchase their stakes. www.ilsannioquotidiano.it · www.forchecaudine.com · www.spazio50.org · www.ilcorrieredelgiorno.it · citynotizie.it · +4 more
[● 4 SOURCES] Delfin holds approximately a one-third stake in EssilorLuxottica. www.ilcorrieredelgiorno.it · www.ad-hoc-news.de · cpp-luxury.com · sapo.pt
[● 3 SOURCES] The buyout offer from Leonardo Maria Del Vecchio is valued at approximately €29.6 billion. www.forbes.com.tr · www.ceskenoviny.cz · www.powergame.gr
[● 4 SOURCES] Citigroup is reportedly providing up to €22 billion in financing for the Del Vecchio offer. www.forbes.com.tr · www.e15.cz · www.mononews.gr · www.ceskenoviny.cz