EssilorLuxottica heir buys out siblings in €10bn Delfin deal

Leonardo Maria Del Vecchio, heir to the EssilorLuxottica fortune, has secured approval to buy out two of his siblings in a €10 billion deal that restructures the family holding company Delfin. The transaction grants Del Vecchio a 37.5% stake in Delfin, which controls the Ray-Ban maker EssilorLuxottica. The buyout consolidates control within the Del Vecchio family, with Leonardo Maria emerging as the dominant shareholder. The deal was approved by relevant authorities and marks a significant shift in the ownership structure of one of the world's largest eyewear companies. Delfin holds a major stake in EssilorLuxottica, the company behind brands like Ray-Ban and Oakley. The transaction values the buyout at €10 billion, reflecting the high valuation of the eyewear giant. Leonardo Maria Del Vecchio is the son of the late Leonardo Del Vecchio, who founded Luxottica in 1961 and built it into a global eyewear powerhouse. The deal resolves potential succession conflicts among the siblings and ensures a streamlined governance for the family's holdings.