Delfin: Basilico – share buyback or distribution of shareholdings

‘Whilst fully preserving the one at EssilorLuxottica’

(Il Sole 24 Ore Radiocor) - To break the deadlock, “Delfin could buy back the shares held by shareholders who are no longer interested in remaining in the company, financing the purchase through the sale of its financial holdings”. This is stated in a letter sent by Rocco Basilico to the board and shareholders of the Luxembourg-based holding company, in which he outlines various solutions. Alternatively, one of the Del Vecchio heirs proposes an ‘intermediate’ and ‘balanced solution, capable of safeguarding the group’s strategic asset whilst, at the same time, meeting the various needs of the shareholders’, namely ‘to retain the entire stake in EssilorLuxottica in full and to provide for the distribution to shareholders of some or all of the financial holdings’.

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