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2026-11-02 19:16 UTC → 2026-11-04 19:06 UTC ·
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Leonardo Maria Del Vecchio launches €29.6 billion bid bids for D Delfin Sarl
Czech billionaire Michal Strnad, head Leonardo Maria Del Vecchio, president of the Czechoslovak Group, previously submitted an unsolicited 30 billion euro cash offer Lmdv Capital, has issued a formal proposal to acquire the shares of Delfin Sarl, the Luxembourg-based holding company owned by the heirs of the late Leonardo Del Vecchio. The offer, which sought a controlling stake of at least 62.5 percent, valued the holding at approximately a 30 percent discount compared to its net asset value. In response, Leonardo Maria Del Vecchio, president of Lmdv Capital, has issued a formal offer to acquire the shares of Delfin Sarl, valued at approximately €29.6 billion. The proposal €30 billion, aims to consolidate control within the family control and prevent a takeover by Strnad. Czech billionaire Michal Strnad, who previously submitted an unsolicited €30 billion cash offer. Del Vecchio stated in Vecchio’s proposal offers €3.7 billion for each of the seven other 12.5 percent stakes. To provide flexibility, the deal includes options for an all-cash transaction or a letter published structure where 30 percent is paid immediately and 70 percent is settled in QN Media EssilorLuxottica shares after 12 to 14 months. Reports indicate that he has secured financing from a major international credit institution, with reports indicating Citigroup Lmdv Capital may provide secure up to €22 billion in credit. The offer provides flexibility financing from Citigroup to support the seven other shareholders, each holding a 12.5 percent stake, by including options for both an immediate total acquisition and more gradual buyout structures. This move follows a period of intense legal operation. Delfin holds strategic interests in EssilorLuxottica, Generali, MPS, and familial conflict. Amid ongoing internal disputes, UniCredit, with total assets valued at over €40 billion. Despite Del Vecchio has instructed his Vecchio’s efforts to foster dialogue by instructing lawyers to withdraw previous legal actions previously filed against certain family members in an effort to foster dialogue. The members, the proposal has faced internal resistance. Four heirs, including Rocco Basilico, Luca, Clemente, and Paola Del Vecchio, have reportedly rejected the offer. This struggle for Delfin is viewed as remains a high-stakes battle for over the legacy of the late Leonardo Del Vecchio, as the holding company’s assets are valued at over €40 billion. Vecchio.