Delfin, agreement between Leonardo Maria and his mother for the bare ownership of 12.5 per cent

Agreement reached between Leonardo Maria Del Vecchio and his mother Nicoletta Zampillo on the transfer of bare ownership of the 12.5% stake held by the founder's wife to her son. The signature, as reported by Il Sole24 Ore, will arrive in the coming days, but the agreement is there. Leonardo Maria Del Vecchio's ascent in the capital of Delfin, the safe at the head of the EssilorLuxottica empire and of prominent shareholdings such as those in Mps (17.5%), Generali (10%) and UniCredit (2.9%), is therefore moving forward.

In the background remains the tension with Rocco Basilico, Nicoletta Zampillo's son. As anticipated by Bloomberg, Basilico challenged the go-ahead for the Delfin reorganisation in Luxembourg, contesting the procedures and agenda of the 27 April shareholders' meeting that kicked off the operation. Basilico appealed to the Luxembourg Court against the procedure that saw the transfer of 25% of the holding company to Leonardo Maria Del Vecchio for around L10 billion in parallel with the decision to increase the distribution of dividends to the shareholders of the Luxembourg holding company.

There are two points that Rocco Basilico is contesting: the fact that the agenda was not adhered to and the transfer of the 12.5 per cent shares each of the brothers Luca and Paola to Lmdv Fin, the vehicle specially set up to take over 25 per cent of Delfin.

Sources close to Leonardo Del Vecchio throw water on the fire: 'The share transfer was duly approved' by the last Delfin shareholders' meeting and, consequently, 'the transaction will go ahead anyway,' they told Radiocor Il Sole24 Ore.

At the shareholders' meeting, in fact, the Delfin heirs by a majority (6 out of 8) gave their green light to the transfer of Luca and Paola's two shares in Leonardo Maria's Lmdv Fin, thus bringing his total shareholding to 37.5% of the holding company.