Delfin, shareholders' green light: Leonardo Maria Del Vecchio ready to take over 25%

Today, in fact, there has been a significant step in this direction.

The first resolution, that of dividends, was reportedly voted in favour by seven out of eight shareholders, with only Rocco Basilico voting against.

As a result, for three years (2025-2027) the shareholders approved the distribution of 80% of Delfin's profits.

The second resolution was the purchase by Leonardo Maria, through the vehicle LMDV Fin, of the shares of his brothers Luca and Paola, an item voted in favour by six out of eight shareholders, with Rocco Basilico and Claudio voting against.

It has come this far after almost four years in which there have been several attempts at agreement within the ownership, all of which have failed.

Hence the need to overcome the impasse by means of a share reorganisation capable of delivering a relative majority shareholding into the hands of a single shareholder and thus create the conditions to break the decision-making deadlock that has long governed the financial company's shareholders' meeting.

With this in mind, Leonardo Maria Del Vecchio, the fourth son of Luxottica's founder, chief of strategy officer of the EssilorLuxottica giant and chairman of Ray Ban, sent Delfin the proposal to exercise pre-emption and thus the will to take over Luca and Paola's 12.5% each, a path the latter envisaged in the articles of association. Luca and Paola had in fact asked in recent months to transfer their holdings to a personal company.

Sealed passage at the recently concluded assembly.

On paper, with the green light on dividends, the reorganisation now appears to be a given.

Technically, the agreement with Paola and Luca, worth 10 billion, will be signed in the next few days, and from then on there will be 40 days in which the shareholders can file objections.

However, even in the event that the shareholders point the finger at the role of the vehicle set up by Leonardo Maria, we learn, the entrepreneur would take over those shares himself.

Agreements with the creditor banks will also be finalised in the coming weeks.

Agreements that, according to rumours, would include as collateral the 25% package that Leonardo Maria is preparing to take over.

On the contrary, there would be no obligations in the sale of Delfin's financial holdings.